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: 15 Nov 2016 | Removal date: open ended
Still in force

Financial assistance in foreign market

The guarantee will cover half of an export loan worth 25 million EUR provided by Crédit Agricole Cariparma. The funds will be used to expand manufacturing in Virginia in order to create a production hub of the Eldor Corporation for the NAFTA countries. The company is a "leader in the design and production of ignition systems, engine central control units, and systems for hybrid and electric vehicles for the major world automakers". The company possesses four research and development sites in Italy but its production factories are also located in Brazil, China, and Turkey.

According to the press release, this deal strengthened SACE's "role as [a] privileged partner(s) for the international growth of Italian companies".

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

431 Engines & turbines & parts
8408 Compressionignition internal combustion piston engines (diesel or semidiesel engines).
840810 Marine propulsion engines
840820 Engines of a kind used for the propulsion of vehicles of Chapter 87
840890 Other engines

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