The U.S. government has decided to grant more than $ 17 billion to the automotive industry in order to aggravate the situation caused by the ongoing economic crisis.

The government will use the financial resources provided under TARP (Troubled Asset Relief Plan aid Program) designed originally estimated 700 billion to the financial sector.

This statement issued by the U.S. administration, adding that General Motors and Chrysler (two giants of American car) can avail these loans since the early days of 2009.

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The U.S. government has granted loans to some 17 billion dollars to the capital of the Detroit car production.

This support plan will serve to help the giants of the automotive production to save themselves from bankruptcy.

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