Italy is close to approving a 6.3 billion-euro ($7.1 billion) credit facility for Fiat Chrysler Automobiles, setting the stage for Europe's biggest government-backed financing to an automaker since the start of the coronavirus pandemic, according to people familiar with the matter.

The guarantee still needs a signoff from Finance Minister Roberto Gualtieri after accounting offices at his ministry approved the terms, the people said. It will then need to be green-lighted by Italy's state auditor.

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Italy Close To A $7.1 Billion Bailout Loan For FCA

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