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: 06 Nov 2017 | Removal date: open ended
Still in force

Trade finance

The guarantee approved by the Italian Eximbank SACE for a loan issued by Intesa Sanpaolo Group and ING Bank A.Ş to İstanbul Metropolitan Municipality has a total value of EUR 100 million (USD 116 million). The approval of the guarantee was announced on 6 November 2017 in a press release. 

The guarantee seeks to promote Italian exports for the İstanbul Metropolitan Municipality's project to conduct infrastructural works in İstanbul, Turkey.

In this context, SACE explained in a press release: "The initiative is the first of an increasingly proactive approach (“Push Strategy”) introduced by SACE to support and strengthen the competitiveness of Italian exports to selected foreign buyers."

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

542 General construction services of civil engineering works

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