Italy's credit agency SACE approves state guarantees for FCA $7 billion bank loan: source

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Earlier this week the loan was approved by the board of Italy’s biggest retail bank Intesa Sanpaplo (MI:ISP), which will disburse the money after a final green light and conditions for the loan from the Italian Treasury.

Both Fiat Chrysler (FCA) and SACE declined to comment.

FCA earlier this month said its Italian unit was working with Rome and Intesa to obtain a state-backed 6.3 billion euro, three-year facility designed to help the group’s operations in the country and the whole industry to weather the crisis triggered by the coronavirus.