In January 2019, the German Export Credit Agency Euler Hermes Aktiengesellschaft provided a guarantee to support a German company's expansion and modernisation of a steam power plant in Azerbaijan. 



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Inception date: 31 Jan 2019 | Removal date: open ended
Still in force

Financial assistance in foreign market

The German Export Credit Agency Euler Hermes Aktiengesellschaft granted an export credit guarantee in January 2019. The guarantee supports the German energy company Uniper - Technologies GmbH's expansion and modernisation of a steam power plant in Azerbaijan.

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 18.3 million), as the conservative estimate of the project value. The maturity of the loan will be 8 years. The financing institution is Bayerische Landesbank. 

Uniper - Technologies GmbH has its headquarters in Germany with a presence in over 40 countries worldwide. The company generates and trades energy.  

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.




Inception date: 31 Jan 2019 | Removal date: open ended
Still in force

Local sourcing

The German Export Credit Agency's approval process depends on the percentage of foreign-sourced goods included in the value of the export contract. Export contracts which include a foreign content value lower than 49% are approved without further investigation. However, if the export contract value contains more than 49% in foreign-sourced goods, an "Interministerial Committee will decide whether a transaction may be covered on the merits of the individual case." According to the agency, the criteria for this evaluation include the likely effect of the transaction on German employment, whether the location of the project's management remains in Germany, the domestic availability of foreign-sourced inputs, and the German exporter's capacity utilisation rate.