ANNOUNCEMENT 23 Apr 2015

On 23 April 2015, the Saudi Industrial Development Fund provided a loan worth SR 600 million (circa USD 160 million) for setting up a factory for hydrogen production in the city of Yanbu.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Saudi Industrial Development Fund. 2015. English. The Saudi Industrial Development Fund approved 66 industrial Loans totalling S.R. 3.2 billion. http://www.sidf.gov.sa/en/MediaCenter/news/Pages/Fund_News201525.aspx

Inception date: 23 Apr 2015 | Removal date: open ended

State loan

On 23 April 2015, the Saudi Industrial Development Fund (SIDF) on one of its official announcements for the investment activities for the fiscal year 2015, provided a loan amounting to SR 600 million (circa USD 160 million) for setting up a factory for hydrogen production in the Saudi city of Yanbu. 

As no specific inception date was provided for this state aid, the inception date is assumed to be equivalent to the announcement date.

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.

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

 
N/A

AFFECTED PRODUCTS

 
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