ANNOUNCEMENT 31 Dec 2015
In the annual report for the fiscal year 2015, the Saudi Industrial Development Fund mentioned that it had provided a loan amounting to SR 152 million (circa USD 40 million) for the expansion of a steel pipe fitting plant.
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 a loan for expanding a steel pipe fitting plant in the Saudi city of Dammam. The financial amount of the loan was estimated at SR 152 million (circa USD 40 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.