ANNOUNCEMENT 31 Dec 2015
In the annual report for the fiscal year 2015, the Saudi Industrial Development Fund mentioned that it had provided loans amounting to SR 229 million (circa USD 61 million) for setting up three factories for the production of steel billets.
NUMBER OF INTERVENTIONS
Suadi Industrial Development Fund. 2015. التقرير السنوي 2015. http://www.sidf.gov.sa/ar/MediaCenter/AnnualReport/SIDF%20AR2015%20Arabic%20LR.pdf
In the annual report for the fiscal year 2015, the Saudi Industrial Development Fund mentioned that it had provided three loans for setting up three steel billet factories in the Saudi cities of Al-Kharj and Jubail. The financial amount of the loans was estimated at SR 229 million (circa USD 61 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.