Piaggio Group: IFC Loan to expand production operations in Asia

Jul 28 2010 17:00
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Piaggio Group: IFC Loan to expand production operations in Asia

28 July 2010 – Piaggio said it had arranged a loan with IFC (World Bank Group) to expand Group production operations in Asia, in two-wheel vehicles, commercial vehicles and fuel-efficient low-emission engines. The € 45 million credit facility granted by IFC will be intended specifically for the Piaggio Vietnam Company Limited (up to € 15 million) and Piaggio Vehicles Private Limited in India (up to € 30 million, underwritten initially for an amount of approximately € 15 million).

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