"Made in Germany" as close as never before
Are you planning to buy goods or services from Germany?
It may be well worth taking a look at Hermes Cover. ECA support can help you to finance your project and improve your liquidity position. Interested? Please, get in touch with us.
Jan von Allwörden is here to support you
The Middle East is one of the most promising markets for German export companies. In order to provide better support to customers, Euler Hermes established a “Hermes desk” for state export credit guarantees in Dubai in September. The office is managed by Mr Jan von Allwörden, an experienced underwriter.
Jan von Allwörden explains how Hermes Cover can facilitate the financing of business transactions and the support export credit guarantees can provide to companies and banks.
Mr von Allwörden, what prompted Euler Hermes to open an office in Dubai?
In discussions I had in the region, companies, banks as well as representatives of German export companies again and again repeated the wish to have a local contact. We now respond to this wish by establishing the “Hermes desk”.
What is your most urgent task?
First of all, we want to provide information and establish and expand networks with local offices as well as existing institutions and the representatives of German companies.
Companies and local banks know ECA financing as a concept. However, in the past it was rarely used because capital markets and the banks were flushed with money. But times have changed. Hence, ECA financing is a true alternative.
What are the advantages of Hermes Cover?
Although export credit guarantees (Hermes Cover) essentially are a means of protection, they give access to liquidity and are an interesting alternative to local loans or bond financing. Cover provided by the Federal Republic of Germany enables customers to benefit from Germany’s AAA rating. That makes cover interesting also for banks in the region.
Jan von Allwörden is the head of the International Business Development. Being an experienced underwriter and an expert for the region, he knows the market development and the needs of local customers.
Who we are | Export Experts since 1949
- Active on behalf of the Federal Government since 1949, combining the expertise of 400 employees.
- Current portfolio EUR 88 bn is fully underwritten by the Federal Republic of Germany with AAA Rating.
- Overall volume of cover EUR 20,7 bn (2016).
- Short-term EUR 11,4 bn, thereof EUR 4,7 bn in MENA region
- Long-term EUR 9,2 bn, thereof EUR 3,3 bn in MENA region.
- Doing business with 1600 exporters and banks.
- Serial winner of “Best ECA” awards, both globally and regionally.
We can help you to effectively finance your imports
- We offer third-party credit support to German exporters and their banks by virtue of comprehensive insurances and/or guarantees.
- We enable banks to benefit from the AAA-credit rating of the federal republic of Germany, limiting banks’ capital requirements and thus freeing up lines to YOU.
- We enable but also require (at least partial) German sourcing as a core pre-requisite to access our product suit.
We are partners of German suppliers
German suppliers offer a diverse range of goods and services – we support (almost) all industries, sectors and/or structures.
1. International Trade
2. Transportation / Logistics
4. Social Development
5. Capital / Heavy Equipment
Internationally recognized | Deals of the Year in MENA region
- 2008 - BNP Paribas, Jordania
- 2009 - SabaFon – Islamic ECA financing telephone project, Yemen
- 2010 - Société Générale S.A., Wind farm, Azerbaidshan,
- 2010 - Citi / HSBC / Calyon, Dubai Electricity and Water Authority (DEWA), Dubai VAE
- 2010 - Calyon S.A. / Emirates Aluminium Company Ltd. PJSC, Abu Dhabi, VAE
- 2010 - Calyon – Credit Agricole CIB, London, SATORP Jubail, Saudi Arabia
- 2012 - SMS Meer GmbH / Société Générale S.A., Gulf United Steel Holding Company, Bahrain / Yamato Kogyo, Japan
- 2013 - KfW- IPEX Bank GmbH, Petrochemical Complex, Sadara Chemical Company LLC, Al Jubail, Saudi Arabia
- 2014 - ABB AG / Commerzbank AG, KAR Power Iraq, Iraq
- 2015 - Siemens AG / Egyptian Electricity Holding, Goverment of the Arab Republic of Egypt, Ministry of Defense Kairo, Egypt
- 2016 - Orpic Plastics/ Natixis, Liwa Plastics Industries Complex, Oman