IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
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Inception date: 02 Mar 2016 | Removal date: open ended

State loan

On 2 March 2016, the Nordic Investment Bank (NIB) signed a EUR 25 million (USD 27.1 million) loan agreement with RARIK ohf to support the installation of underground cables which will improve the secure supply of electricity in the country. The loan has a duration of 15 years.

RARIK is the public energy company of Iceland. It operates 90% of the electricity distribution system.

The NIB is an international financing bank and is jointly owned by Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The bank provides financing to private and public projects mainly located in the eight countries at attractive conditions. The eligibility criteria of NIB financing is that: "All projects financed by NIB should improve competitiveness and/or the environment, in accordance with NIB's mandate and eligibility criteria. Furthermore, outside the membership area, projects financed by NIB should be of mutual interest to the country of the borrower and the member countries."

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

691 Electricity & gas distribution (on own account)

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