ANNOUNCEMENT 31 Dec 2012In December 2012, the government of France announced a change in its trade finance instruments.
NUMBER OF INTERVENTIONS
Law No. 2012-1559 (in French), http://www.legifrance.gouv.fr/affichTexte.do?cidTexte=JORFTEXT000026871127&dateTexte=&categorieLien=id
Ministry of the Economy and Finances of France (in French), http://www.economie.gouv.fr/banque-publique-dinvestissement
UNCTAD (in English), http://unctad.org/en/PublicationsLibrary/webdiaepcb2013d2_en.pdf
On December 31, 2012, France enacted the Law No. 2012-1559 on the creation of a public investment bank (Banque Publique d'Investissement). This new institution will focus on the support to small- and medium-sized companies. According to an official statement by the Ministry of the Economy and Finances of France, the new bank will also promote innovation and exports of French enterprises.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.