The Italian government approved a decree of government guarantees for a 6.3 billion euro ($ 7.1 billion) loan to Italian company Fiat Chrysler.
According to Arabia Net, sources said that the Italian Court of Audit approved the decree in a final step, as it was a long and contested process to approve the loan.
The Italian department in Fiat Chrysler has used emergency funding plans for Corona virus in Rome to secure a three-year state-supported facility to assist the group's operations in the country.
The loan will be disbursed by the largest Italian retail bank, Intesa Sanpaolo, who has already been allowed to wait for approval of the guarantees that will be provided by the government on 80% of the amount through the Export Credit Agency .
