Jaguar Land Rover and Nissan should get Euro loan approval

Jaguar Land Rover will get approval for a loan of £270m (300m euros) from the European Investment Bank on Tuesday 7 April, the BBC reports.

According to government sources, the firm has met the loan criteria.

A loan of £364m (400m euros) will also be split between Nissan’s plants in Sunderland and Spain, bringing the UK total to £455m (500m euros).

Jaguar Land Rover said it could be a number of weeks before any cash was handed over.

Sources at the company were more cautious, stressing that whilst they were confident the money will be approved, they did not want to assume it would.

Full story: BBC News