AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
In August 2020, the German Export Credit Agency Euler Hermes Aktiengesellschaft granted an export credit guarantee. 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 3. This category includes projects with a financing value between EUR 51 and 100 million. The GTA assumes the lower bound amount of the respective category, in this case, 51 million EUR (approx. USD 60.8 million), as the conservative estimate of the project value. The maturity of the loan is 10 years. The financing institution is Landesbank Hessen-Thüringen (Helaba).
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.
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