ROME -- Italian-American carmaker Fiat-Chrysler got a much-needed boost after Italy's bank gave the approval to a 6.3-billion-euro (6.9-billion-U.S. dollar) loan to the company as it struggles amid coronavirus restrictions.

Banca Intesa Sanpaolo said in a statement Wednesday that it agreed to the loan that had been under negotiation since earlier this month. (Italy-Fiat-Loan)

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RABAT -- The African Development Bank (AfDB) said on Wednesday it has approved a loan of 264 million euros (290 million U.S. dollars) to help Morocco mitigate the impacts of COVID-19 pandemic.

The primary objective of the loan is to help stop the spread of the virus and further improve the effectiveness of the authorities' health response, AfDB said in a statement. (AfDB-Morocco-Loans)

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FRANKFURT -- The European Central Bank (ECB) President Christine Lagarde said Wednesday that the 19-member euro area economy is likely to contract between 8 percent and 12 percent this year, noting that a previous "mild scenario" estimate of a 5-percent decline is probably outdated.

"It is very likely that the mild scenario is out of date," Lagarde said during an ECB online event. "It's very likely that we are somewhere between the medium and severe scenarios." (ECB-Euro Area-Economy)

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BANGKOK -- Thai Prime Minister Prayut Chan-o-cha on Wednesday assured that his government will be capable of managing and repaying 1 trillion baht (about 31.38 billion U.S. dollars) in loan for finance relief, social and economic measures due to the COVID-19 pandemic.

Addressing the House of Representatives, Prayut said the government needs the loan under one of three executive decrees. (Thailand-COVID-19-Loan) Enditem

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