ANNOUNCEMENT 30 Sep 2016

In September 2016, the German Export Crediting Agency announced its support of an export project concerning the modernisation and extension of an existing textile production plant; including the delivery of two staple fibre production plants and the modernisation of an existing polycondensation plant, including services and spare parts in Belarus.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 30 Sep 2016 | Removal date: open ended

Trade finance

The export loan was announced in September 2016 and finances the modernisation and extension of an existing textile production plant; including the delivery of two staple fibre production plants and the modernisation of an existing polycondensation plant, including services and spare parts ('Im Rahmen der Modernisierung und Erweiterung einer bestehenden Textilfaserfabrik: Lieferung von zwei Anlagen zur Herstellung von Stapelfasern sowie Modernisierung einer bestehenden Polykondensationsanlage einschl. Leistungen und Ersatzteile') in Belarus. The benefitting German exporter is Oerlikon Textile GmbH & Co. KG, Neum?nster.

The German Eximbank 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 16 and 50 million EUR. The GTA assumes the lower bound amount of the respective category, in this case 16 million EUR (18 million USD), as the conservative estimate of the project value.

The maturity of the loan will be 7 years. The financing institution is Commerzbank AG, Frankfurt.

AFFECTED SECTORS

 

AFFECTED PRODUCTS