IMPLEMENTATION LEVEL

NFI

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
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Inception date: 31 May 2019 | Removal date: open ended

Trade finance

The German Export Credit Agency Euler Hermes Aktiengesellschaft granted an export credit guarantee in May 2019. The guarantee supports a non-disclosed German company's construction of a wind farm in Turkey.

The German Export Credit Agency Euler Hermes Aktiengesellschaft only publishes value ranges for the projects it finances. The present project is in category 2. This category includes projects with a financing value between EUR 16 and 50 million. The GTA assumes the lower bound amount of the respective category, in this case, 16 million EUR (approx. USD 18 million), as the conservative estimate of the project value. The maturity of the loan is 9.5 years. The financing institution is Landesbank Hessen-Thüringen.

A similar guarantee was also approved by the German Export Credit Agency Euler Hermes Aktiengesellschaft in May 2019, see related state act. 

Germany provides Export Credit Guarantees and Untied Loan Guarantees to support German exports. The issuance of such guarantees is managed on "behalf of the Federal Republic of Germany by Euler Hermes Aktiengesellschaft". 

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 or from foreign subsidiaries.

AFFECTED COUNTRIES

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