ANNOUNCEMENT 15 Mar 2016

In March 2016, the governments of Germany, Italy, Netherlands & Republic of Korea announced .

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 15 Mar 2016 | Removal date: open ended

Trade finance

 On 15 March 2016, the German Eximbank KfW announced that it had finalised an export credit for the Liwa Plastics LLC petrochemical project in Oman.
The Eximbank will provide a 16-year loan worth 179 million USD, which will be guaranteed by the Dutch, Italian and Korean eximbanks. The funds will be used for a part of a steam cracker for the natural gas cracking, which shall be sourced from Germany, Netherlands and the Republic of Korea.
Meanwhile, the Italian Eximbank SACE stressed that their share of "financing is intended to sustain supply contracts awarded (...) to Maire Tecnimont and subcontracts that will be assigned to numerous Italian companies, especially SMEs, that produce machinery tools for the oil & gas sector".
The Eximbank of Korea and UKEF also provided further financing (cf. Related Measures).
The entire project will cost 6.4 billion USD and will be the biggest petrochemical plant in Oman.
A state measure in the GTA database is assessed solely in terms of theextent to which its implementation affects the extent of discriminationagainst foreign commercial interests. On this metric, this trade financeaffects the conditions of competition and foreign firms competing inthe overseas market in question.
The list of affected trading partners is based on 2014 trade figures.

AFFECTED SECTORS