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: 24 Mar 2016 | Removal date: open ended

Trade finance

 On 24 March 2016, the Italian Eximbank SACE announced in a press release that it would guarantee a credit for the provisions of goods from the Italian company Sider Engineering SpA for a steel plant in Milagro, Ecuador.
The SACE guarantee will cover a 30 million USD loan issued by the Inter-American Development Bank; which was used to purchase a mini-mill unit from Sider Engineering. The entire project shall cost 131 million USD.
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.
The list of affected trading partners is based on 2014 figures. However, as Ecuador did not import any products in the specified HS code worth more than 1 million USD from a single county, no affected trading partners were selected.
 

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

442 Machine-tools & parts
8459 Machinetools (including waytype unit head machines) for drilling, boring, milling, threading or tapping by removing metal, other than lathes (including turning centres) of heading 84.58.
845910 Waytype unit head machines
845921 Numerically controlled
845929 Other
845931 Numerically controlled
845940 Other boring machines
845951 Numerically controlled
845961 Numerically controlled
845969 Other
845970 Other threading or tapping machines

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