ANNOUNCEMENT 31 Dec 2016
In the annual report for the fiscal year 2016, the Saudi Industrial Development Fund mentioned that it had provided a loan amounting to SR 81 million (circa USD 21 million) for the establishment of an aluminium profile factory.
NUMBER OF INTERVENTIONS
Saudi Industrial Development Fund. Annual Report 2016. https://www.sidf.gov.sa/en/MediaCenter/AnnualReport/SIDF%20Annual%20Report_English_Web_2016.
In the annual report for the fiscal year 2016, the Saudi Industrial Development Fund mentioned that it had provided a loan for establishing an aluminium profile factory in the Saudi city of Sundair. The financial amount of the loan was estimated at circa SR 81 million (circa USD 21 million). As no inception date was provided for this state aid, the most conservative date, i.e. 31 December 2016, 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.