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: 16 Jan 2017 | Removal date: open ended
Still in force

Trade finance

On 16 January 2017, the Korean Eximbank announced providing a total value of EUR 500 million (USD 530.12 million) to finance the Carbamide Plant Project in Azerbaijan. The Korean company Samsung Engineering Co., Ltd. is participating in this project as EPC contractor (Engineering, Procurement, and Construction contractor).

In this context, an official of the Eximbank stated: "Korea Eximbank's financing for this project contributes to economic cooperation between Korea and Azerbaijan and to establishment of the foundation for Korean companies to win other large-scale projects which might be awarded by the Azerbaijan government. ... This financing also serves as an impetus for Korean companies in the plant industry seeking to invigorate their businesses."

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

541 General construction services of buildings
542 General construction services of civil engineering works

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