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: 01 Sep 2015 | Removal date: open ended
Still in force

Trade finance

 On 1 September 2015, the Italian Eximbank SACE announced in a press release that it would guarantee an export credit worth 10 million USD for two yachts produced by the Italian company Sanlorenzo and purchased on the US market.
The export credit was provided by the Italian private bank Intesa Sanpaolo. According to the press release, "This initiative bolsters and confirms SACE's role in support of the foreign development of Made in Italy excellence and consolidates the relationship between Intesa Sanpaolo and Sanlorenzo, which recently joined in the innovative 'Program Filiere' devised by the banking group to improve access to credit and promote the development of excellent production chains in the Italian business system".
A state measure in the GTA database is assessed solely in terms of the extent to which its implementation affects the extent of discrimination against foreign commercial interests. On this metric, the state aid proposed here is discriminatory.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

494 Pleasure & sporting boats
8903 Yachts and other vessels for pleasure or sports; rowing boats and canoes.
890310 Inflatable
890391 Sailboats, with or without auxiliary motor
890392 Motorboats, other than outboard motorboats
890399 Other

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