Left Menu
Development News Edition

Renault finalises 5 billion euros credit facility with French state

Reuters | Paris | Updated: 03-06-2020 12:05 IST | Created: 03-06-2020 12:01 IST
Renault finalises 5 billion euros credit facility with French state
File photo Image Credit: Flickr

Carmaker Renault finalized on Wednesday a 5 billion euros ($5.60 billion) credit facility with the French government, strengthening Renault's finances in the wake of the coronavirus pandemic which has ravaged the autos industry. Renault said that the new credit facility carried a guarantee from the French state - which owns a 15% stake in Renault - of up to 90% of the total amount borrowed.

Banks BNP Paribas, Credit Agricole, HSBC France, Natixis, and SocGen were involved in the new Renault credit deal. ($1 = 0.8925 euros)



COVID-19 seems cooking biggest ever global scam

The increasing number of corruption cases on COVID-19 funds from throughout the world and involvement of high profile persons indicate that the countries cant ignore corruption in their pandemic response programs. This has generated the nee...

Health Management Information Systems lack holistic, integrated, and pandemic resilient character

Being a part of the United Nations system, the World Health Organization WHO deserves its share of rebuke for its alleged failure issue COVID-19 health emergency alerts on appropriate time. However, the pandemic has also exposed loopholes i...

Pride in the time of coronavirus: a welcome move online?

This year is different in many ways not least as celebrations are also taking place against the dramatic backdrop of a global health crisis and a resurgence in grassroots activism following the death of George Floyd in Minneapolis. ...

COVID-19: Weighing up the benefits and limitations of edtech platforms

Edtech companies shouldnt focus on merely pushing contents, but to provide an interactive, effective teaching and learning environment. ...


Latest News

Australia closes state border for first time in 100 years to halt coronavirus

Australian officials are closing the border between Australias two most populous states from Tuesday for an indefinite period as they scramble to contain an outbreak of the coronavirus in the city of Melbourne.The decision announced on Mond...

Airstrikes hit Libya base held by Turkey-backed forces

Libyan officials in the capital of Tripoli have said that overnight airstrikes hit a key military base on the citys outskirts that was recently retaken by Turkey-backed forces. A spokesman for the Tripoli-based forces, Col. Mohamed Gnounou,...

COVID-19, GST will be future Harvard case studies on failure: Rahul's dig at govt

Congress leader Rahul Gandhi on Monday attacked the government over rising coronavirus cases, saying future Harvard Business School case studies on failure would include the governments handling of COVID-19Taking a dig at Prime Minister Nar...

Philippines reports spike in coronavirus cases

The Philippines has reported its biggest spike in coronavirus infections in recent days as the government eases quarantine restrictions to revive the economy, raising the possibility its crowded capital may be placed back under strict lockd...

Give Feedback