IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 31 Jan 2016 | Removal date: 30 Dec 2017
Still in force

Trade finance

 On 31 January 2016, the Italian Eximbank SACE announced in a press release that it had signed a Memorandum of Understanding with GE Oil & Gas. As part of the deal, the bank agreed to support the exports from Italian production sites of the company with 6 billion USD in the years 2016-2018.
According to the press release, the funds will target particularly exports to Latin America, North and Sub Saharan Africa, Middle East and Asia. Hence, the list of affected trading partners is based on countries in the the regions mentioned above where Italy exports oil and gas.
The CEO of SACE said after signing the MoU "We are committed to boost new export opportunities in high potential markets, with positive impacts on the significant production processes and jobs generated in Italy by GE Oil & Gas and their partner SMEs".
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

120 Crude petroleum & natural gas
2711 Petroleum gases and other gaseous hydrocarbons.
271111 Natural gas
271121 Natural gas
334 Petroleum gases & other gaseous hydrocarbons, except natural gas
2711 Petroleum gases and other gaseous hydrocarbons.
271112 Propane
271113 Butanes
271114 Ethylene, propylene, butylene and butadiene
271119 Other
271129 Other

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