ANNOUNCEMENT 01 Sep 2015In September 2015, the government of Italy announced a change in its trade finance instruments.
NUMBER OF INTERVENTIONS
On 1 September 2015, the Italian Eximbank SACE announced in a press release that it would guarantee an export credit worth 10 million USD for two yachts produced by the Italian company Sanlorenzo and purchased on the US market.
The export credit was provided by the Italian private bank Intesa Sanpaolo. According to the press release, "This initiative bolsters and confirms SACE's role in support of the foreign development of Made in Italy excellence and consolidates the relationship between Intesa Sanpaolo and Sanlorenzo, which recently joined in the innovative 'Program Filiere' devised by the banking group to improve access to credit and promote the development of excellent production chains in the Italian business system".
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.