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International Framework

PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft (PwC) is a member of the Berne Union which was founded in 1934. The Berne Union is an association of all government-backed export credit and foreign investment insurers; however, it is also open to private insurers.

The  goal of the Berne Union is to develop appropriate standards for export credit and investment insurances. Within the association the members continuously discuss and exchange information as well as experiences concerning recent events and developments, the investment climate in specific countries, public relations activities, the extension of cover options and guarantee-specific issues.

With the adoption of the Berne Union Value Statement in October 2004, the members of the association committed to pursue the promotion of exports and foreign direct investments in an ethically and financially responsible manner and to incorporate a respectful treatment of the natural environment. In addition to the general obligation, the Guiding Principles adopted in October 2008 defined the association’s universal rules and regulations for the actions of its members.

The Berne Union publishes on a regular basis the  current statistics on the issued guarantees against political risks of foreign investments of its member countries.  Furthermore, the association discloses information about the occurred losses in the host countries.

Large projects, mainly infrastructure investments in the form of operator models (BOT) are to a large extent realised by international co-operations. Foreign investors and lenders make use of their respective national cover schemes. Hence, the co-operation between the different institutions is necessary and meaningful to realise projects and to coordinate successfully in critical situations.

David Frank

Energy, Healthcare, Mechanical Engineering, International Relations