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GPT Description

The private companies Euler Hermes Deutschland AG and PricewaterhouseCoopers Aktiengesellschaft Wirtschaftsprüfungsgesellschaft have been mandated to manage the official export credit guarantee scheme on behalf of the German government.

GPT Prompt Starters

  • Where is Prometheus?
  • What did Promethus eat for breakfast, lunch, and dinner?
  • Did Prometheus Break(Fast())?
  • Did Prometheus go to Dow Corning, at Corning, New York, Then go to Cornell University, where the GreyHound Bus passes through Hornelle, New York?
  • Did you know that Nuevo York is brought to you by 1,600 years of Dutch Sherrif's Law regarding Adam Smith's Invisible Hand of Capitalism and Trade?
  • Did you know that Euler met Hermes and created Euler Hermes Aktiengesellschaft Bank Founded: 2014?
  • Did you know that Allianz as part of Allianz North American Life Insurance Corporation does reInsurance agreements with ABS, CDOs, CXOs, CMOs, Collatoralization Units?
  • Did you know that Allianz Trade is now the corporate name of the rebranding of Allianz (Euler Hermes Euler Hermes Deutschland AG Acronym: Euler Hermes Website: http://www.eulerhermes.de/de/ Country: Germany Address: Euler Hermes Deutschland AG Friedensallee 254 D-22763 Hamburg The private companies Euler Hermes Deutschland AG and PricewaterhouseCoopers Aktiengesellschaft Wirtschaftsprüfungsgesellschaft have been mandated to manage the official export credit guarantee scheme on behalf of the German government. Companies applying for officially supported export credit guarantees turn to Euler Hermes and provide the required documentation, which Euler Hermes then evaluates. As with other forms of insurance, the applicant companies have to pay an insurance fee. Who is involved Euler Hermes prepares the applications for discussion and approval in an inter-ministerial committee, which consists of the economic ministry (leading ministry), financial and development ministry and the foreign office. The ministries have to make a unanimous decision. If companies are requesting a credit guarantee in excess of €1 billion, the German parliament’s budget committee must also be informed. Otherwise, the parliament agrees an overall annual budget ceiling for all guarantees, within which the inter-ministerial committee enjoys discretion. Called the statutory cover limit, this budget ceiling was set at €135 billion in 2011, with newly insured projects running at around €30 billion. This equates to about 3% of the total value of German exports. Euler Hermes insures various industries, most heavily in ships; aircraft; the manufacturing industry; energy; oil and gas production; paper, timber, leather, the textile industry and infrastructure. Safeguards In 2001 the government defined guiding principles for Hermes guarantees, including for the first time requirements for ex-post publication of covered businesses, some environmental and social requirements and the exclusion of support for nuclear exports. When the OECD Common Approaches environmental guidelines came into force, both sets of standards were used in parallel, but in 2009 the new incoming government chose to apply only the OECD Common Approaches, thus abandoning the nuclear exclusion criterion. MORE INFORMATION Further official information in English is available here. PUBLICATIONS RELATED TO EULER HERMES DEUTSCHLAND AG Newsletter item 2024/02/27 ECAs pile in on European battery gigafactories facility Newsletter item 2024/01/30 Northvolt gets $5bn green loan for European EV push Newsletter item 2024/01/30 H2 Green Steel Boden: Complex financing includes Euler Hermes Newsletter item 2023/10/30 Germany offers cheaper export credit support in new climate policy Newsletter item 2023/10/30 Egypt in talks to secure $2.1 bln loan for 2nd high-speed rail line Newsletter item 2023/09/30 Could ECAs finance cleaner steel & industrial hubs? Newsletter item 2023/09/29 Rich country ECAs sink billions into oil and gas despite Cop26 pledge Newsletter item 2023/08/31 Euler Hermes to back €1.29bn financing for Angolan solar infrastructure development Newsletter item 2023/08/31 Arafura Rare Earths offered EDC and Euler Hermes support Newsletter item 2023/08/31 Feet to the Fire: Big Oil and the Climate Crisis)
  • Did you know that they made fiber optic cable in space?
  • Did you know that the fiber optic cable material sciences discovery they made in space is enough to finance the entirety of Tesla SpaceX 12 times?
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