Volvo, the government in Sweden continue talks on the loan guarantees

Posted on Thursday, 26 February 2009 , 22:02:34 byEmil

Filed under volvogovernmentswedenloanguaranteeVolvoFordGMSaab

Volvo, the government in Sweden continue talks on the loan guarantees

Despite the news that the government in Sweden is favoring struggling apparently Volvo - Ford-owned over struggling similarly Saab, General Motors-owned, the government from North hasn't announced still whether it could provide the state Volvo loan guarantees.


The Swedish automaker, Ford-owned applied for 568 million Dollars state guarantees of loans from European Investment Bank. The debt office in Sweden says this would have now to win approval from government right before the loan requests submit to that European Investment Bank.

'After that, the government can take a formal decision' said Magnus Thor, the head of the debt office’s national guarantee / loan department, reported to Reuters. 'We aim to be done as soon as possible. I expect this will happen some time next week.' The Investment Bank Europe set a deadline for March 12 for receiving requests of loan.

Thor didn't specify on what deals needed still to be reached now between the government and Ford.