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: 20 Oct 2016 | Removal date: open ended
Still in force

Financial assistance in foreign market

On 20 October 2016, the Korean Eximbank announced providing a total value of USD 3.1 billion for the Barakah Nuclear Power Plant project in the United Arab Emirates. The tender bid for this project was awarded to the Korean company Korea Electric Power Corporation by Emirate Nuclear Energy Corporation. Out of the USD 3.1 billion, USD 2.5 billion will be allocated to a joint venture between Korea Electric Power Corporation and Emirate Nuclear Energy Corporation. The remaining USD 600 million be allocated to the Korean company, which will used for equity funding.

The Korean company will manage the project to build a nuclear power plant. The Eximbank, however, noted that they expect the project will lead to other Korean companies playing role, such as engineering, procurement, and construction.

In this context, an official of the Eximbank stated: "This project conveys quite a significant meaning because Korea Eximbank had clearly expressed its intention to finance the project from the very initial stage and took the lead on supporting Korean companies aspiring to pioneer new markets abroad."

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

Please report this page in case you detect an inaccuracy in its content.