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: 27 Mar 2017 | Removal date: open ended
Still in force

Trade finance

On 27 March 2017, the Korean Eximbank announced providing a total value of USD 1 billion in a direct loan for the Clean Fuels Project (CFP project) in Kuwait. The Korean companies GS E&C, SK E&C, Samsung Engineering, Daewoo E&C, and Hyundai Heavy Industries are participating in this project. 

The project will modernise two refineries in Kuwait operated by the state-owned oil refining company Kuwait National Petroleum Company (KNPC)

In this context, an official of the Eximbank stated: "In this project, five major Korean construction companies are taking their part to construct USD 6 billion worth of a plant, while more than 150 Korean small and medium-sized enterprises are exporting equipment as KNPC's partners." He added, "Korea Eximbank decided to extend USD 1 billion in the form of Direct Loan when the project is 70~80% completed to promptly provide the funding to KNPC"

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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