ANNOUNCEMENT 30 Nov 2015

In November 2015, the governments of Germany, Italy & Spain announced a change in its trade finance instruments.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 30 Nov 2015 | Removal date: open ended

Trade finance

 On 30 November 2015, the Italian Eximbank SACE announced in a press release that it would guarantee the export credit for the construction of a new metro line in the Peruvian capital of Lima.
The project would be constructed by a consortium of local, Spanish and Italian companies and require funds of 5.5 billion USD. 600 million USD of these funds would be provided as export credit by a number of banks and guaranteed by SACE. These banks include inter alia the German Kfw IPEX-Bank (undisclosed amount) and the Spanish state-owned ICO bank (60 million USD).
A state measure in the GTA database is assessed solely in terms of the extent to which its implementation affects the extent of discrimination against foreign commercial interests. On this metric, the state aid proposed here is discriminatory.

AFFECTED SECTORS