AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
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.
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