EU approval for Sweden to provide loan guarantees Saab cars
Xinhua February 8, Brussels (still) the EU Commission decision of 8 November, approved for Sweden Government Saab Automobile companies from the European Investment Bank for 4 million euros loan guarantee.
It is learnt that Saab Automobile Company is currently preparing to launch a total of 10 million euros of investment projects to improve vehicle fuel efficiency and safety performance. To this end, Saab Automobile companies want access to loans from the EIB.
The European Commission issued a statement, warranty provided by the Government of Sweden in 82.8 percent belong to government subsidies, but in line with the EU response to the financial crisis to make special provision, the remaining 17.2% is charged on the basis of market prices, does not constitute Government subsidies without approval, and therefore does not have an impact on competition in the market.
Saab Automobile was originally United States General Motors in an important brand in Europe. In January this year, the economic crisis in troubled GM decided to Saab brand sold to Netherlands sports car manufacturer automobile company Spyker.
(Xinhua)
[Edit: yiyangcai]