ANNOUNCEMENT 31 Dec 2014In December 2014, the government of Saudi Arabia announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
2014 Annual Report of the SIDF
Historical Review of the SIDF
In 2015, the Saudi Industrial Development Fund published its Annual Report for the year 2014. The report mentions a 100 million SAR (ca. 27 million USD) loan for the construction of a propylene plant in Yanbu. To be precise, the factory will produce non-inflammable propylene compounds containing metal powder reinforced by glass.
As no inception date was provided for this state aid, the most conservative date, i.e. 31 December 2014, is assumed.
The Saudi Industrial Development Fund
The Saudi Industrial Development Fund (SIDF) was established in 1974 to provide financing and support for Saudi Arabia's private industry through medium- and long-term loans. The funds are meant to upgrade, expand and create new branches of the country's industry. Since its establishment, the SIDF has provided until the end of 2014 nearly 118 billion SAR (ca. 31.5 billion USD) of loans, with 45.4 billion SAR going to the chemical sector and 20.1 billion SAR to the manufacture of consumer products.
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.
The list of affected trading partners is based on the 6-digit HS code 390210.