AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
The guarantee approved by the Italian Eximbank SACE for a credit line issued by UniCredit to Italian LeMur has a total value of EUR 250 million (USD 294.8 million). The approval of the guarantee was announced on 15 November 2017 in a press release.
The loan and guarantee support the Italian company's development of new industrial applications of silicon yarn with foreign partners.
In this context, SACE stated in a press release: "With this operation, SACE and UniCredit confirm their commitment to support Italian companies in the textile field, where Made in Italy plays a prominent role on a global scale."
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.
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