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GM to get another $5.4 billion from Treasury on January 16

WASHINGTON
Mon Jan 5, 2009 4:35pm EST

WASHINGTON (Reuters) - General Motors Corp will receive a second $5.4 billion installment of its government loan on January 16, the U.S. Treasury said on Monday.

In a transaction report for its bailout fund, the Treasury said it has approved the release of a total of $9.4 billion for GM, including $4 billion disbursed on December 31 and $5.4 billion to be funded on Jan 16.

The Treasury has agreed to lend GM another $4 billion, but those funds would come from a second $350 billion tranche of the $700 billion Troubled Asset Relief Program that Congress could block.

GM on Monday reported a 31 percent decline in December U.S. sales compared with a year earlier, capping a 23 percent decline for all of 2008.

(Reporting by David Lawder; Editing by Dan Grebler)


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