GM to get another $5.4 billion from Treasury
 

Automotive News | January 5, 2009 – 4:45 pm EST

WASHINGTON (Reuters) – General Motors will receive a second $5.4 billion installment of its government loan on Jan. 16, the U.S. Treasury said late 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 Dec. 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.