ANNOUNCEMENT 31 Dec 2015

In the annual report for the fiscal year 2015, the Saudi Industrial Development Fund (SIDF) mentioned that it had provided two loans amounting to SR 250 million (circa USD 66 million) for setting up two new factories for the production of medicines and pharmaceutical products. 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Suadi Industrial Development Fund. 2015. التقرير السنوي 2015. http://www.sidf.gov.sa/ar/MediaCenter/AnnualReport/SIDF%20AR2015%20Arabic%20LR.pdf

Inception date: 31 Dec 2015 | Removal date: open ended
Still in force

State loan

In the annual report for the fiscal year 2015, the Saudi Industrial Development Fund mentioned that it had provided two loans for setting up two new factories for the production of medicines and pharmaceutical products in the Saudi cities of  Hail and Riyadh. The financial amount of these two loans was estimated at SR 250 million (circa USD 66 million).


As no inception date was provided for this state aid, the most conservative date, i.e. 31 December 2015, 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. 
 
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

 

AFFECTED PRODUCTS

 
N/A