IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 19 Mar 2014 | Removal date: open ended
Still in force

Trade finance

On 19 March 2014 the Export-Import Bank (Eximbank) of Korea provided a USD 48 million loan under the Economic Development Cooperation Fund (EDCF) to finance Nicaragua's second stage of its renewable energy power transmission and transformation facilities project.
 
In this context the Bank stated: 'Korean contractors, who enjoy a definitive technological advantage in the construction of high-voltage transmission and transformation facilities, will design and build the second phase of this project as well. This is likely to broaden opportunities for Korean companies to take part in other power infrastructure and ODA (Offcial Development Assistance) projects in Latin America.'
Notably the ExImBank previously provided a USD 27.2 loan for the first stage of this project.
 
The Economic Development Cooperation Fund
The EDCF provides low-interest and long-term credit to developing countries for projects seeking to promote industrialization and economic stability. In some cases Korean companies are involved in such projects directly or through exports. More information on the Fund can be found on the official website or the "Guide to the Import-Export Bank of Korea" publication.
 
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

461 Electric motors, generators & transformers; parts
8502 Electric generating sets and rotary converters.
850211 Of an output not exceeding 75 kVA
850212 Of an output exceeding 75 kVA but not exceeding 375 kVA
850213 Of an output exceeding 375 kVA
850220 Generating sets with sparkignition internal combustion piston engines
850231 Windpowered
850239 Other

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