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: 28 Sep 2017 | Removal date: open ended
Still in force

Trade finance

The guarantee approved by the Italian Eximbank SACE for a loan issued by UniCredit to Italian Ferretti Group has a total value of EUR 35 million (USD 41.35 million). The approval of the guarantee was announced on 28 September 2017 in a press release. 

The loan and guarantee support the Italian company's construction and export of for yachts and pleasure crafts.

In this context, SACE stated in a press release: "With this deal, UniCredit and SACE confirm their commitment in favor of Italian shipbuilding companies, a field where Made in Italy plays a crucial role at the global level. Specifically, SACE has supported the Ferretti Group in various operations, providing the guarantees the company required to provide and execute foreign orders."

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

494 Pleasure & sporting boats
8903 Yachts and other vessels for pleasure or sports; rowing boats and canoes.
890392 Motorboats, other than outboard motorboats
890399 Other

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