Financiarul

The draft law concerning the release of Romanian Government’s guarantees for the Ford company could pass on Monday, March 22, in the Senate, Senate Chairman Mircea Geoana aid on Friday after a meeting with Ford Romania Director Dionisio Campos.

‘The draft law concerning the ratification of the guarantee agreement between Romania and the European Investment Bank (EIB) in relation to guaranteeing the obligations arising from the financing agreement between EIB and Ford Romania to upgrade the Ford factory in Craiova reached the Senate on Thursday. Some days ago, the President of Romania raised this matter, and the fact that things moved swiftly in the Chamber of Deputies proves there is a non-political interest in the success of the Craiova factory.

We have taken all the measures so that the Senate on Monday, when the Standing Bureau is called for session, we may place this draft law on the Senate agenda as a main priority and I hope we will have it clear the Senate, which is the decsion-making chamber in this case,’ said Geoana.
He mentioned that the loan agreement will allow Ford Romania to access the EIB loan without any penalties or delays attached in the first quarter of 2010, as agreed upon by the three parties to the agreement – the EIB, the Romanian Government and Ford.

‘We believe this is a signal of constant encouragement for the strategic investments in Craiova and for a genuine partnership between this giant global company and the central and local administrations of Romania,’ said Geoana.
Ford Romania Director Campos said he asked Geoana for support in ratifying the loan agreement with the EIB, saying that this money is very important to the success of the Ford project in Craiova and will help the company move on to the next development stage there.

He also said that the dyeing workshop will be the last of the Craiova factory to be upgraded and the factory counts continuing professional training for its employees among its main priorities. Romania’s Chamber of Deputies on Wednesday passed, 256 to one abstention, the draft law under which state guarantee will be awarded to the Ford company.

The chamber’s leadership on Tuesday had approved including the draft law as a priority on the agenda of the plenary session of the chamber the ratification of the guarantee agreement between Romania and the European Bank for Reconstruction and Development (EBRD), signed on January 21, 2010 in Bucharest, that provides for an 80 percent coverage of the obligations arising from the financing agreement between the European Investment Bank and the Ford company worth 400 million euros, to be used for upgrading the Ford automobile factory in Craiova, southern Romania.