Here you will find all news and press releases.
EKN updates country risk classifications for six nations. West African Cape Verde and four Latin American/Caribbean countries are upgraded, while Israel in the Middle East is downgraded due to conflict risks.
EKN updates country risk classifications for six countries
As of 20 September 2024, new functions will be available for Business Accounts in EKN Online. In connection with this, the General Terms and Conditions for EKN Online are also updated.
New functions in EKN Online
EKN has eased requirements for Zambia, abolishing the need for own hard currency earnings and letters of credit for bank risks.
Zambia – country policy change
EKN has closed long-term bank risks for Ethiopia due to financial challenges and a severe hard currency shortage.
EKN tightens Ethiopia policy by closing long-term bank risks
Despite remaining in country risk class 7, Pakistan is showing signs of economic stabilization with selective policy reliefs.
Pakistan's economic outlook shows signs of improvement
Georgia, Montenegro and Oman have new country risk classifications following the latest OECD meeting.
Read more
Today, the 28th meeting of the Conference of the Parties (COP) opens in Dubai.
SEK and EKN explain the importance of attending COP28
Please be informed that revised and updated General Conditions for Counter Guarantees are now available on EKN’s website.
Updated General Conditions for Counter Guarantees
In the 2024 budget bill, the government proposes a special guarantee framework for EKN in the National Debt Office and allocation of funds to appropriations in the state budget for guaranteeing exports to Ukrainian importers.
Special export credit guarantee for Ukraine
EKN appoints Lena Bertilsson as new Director of Business Area for Large Corporates and member of EKN’s executive management. She has extensive experience from export finance and senior positions within several banks, most recently at Swedbank.
Lena Bertilsson new Director of Business Area for Large Corporates at EKN
Please be informed that revised and updated General Terms and Conditions for Buyer Credit Guarantees now are available on EKN’s website.
Updated General Terms and Conditions for Buyer Credit Guarantees
The Export-Import Bank of the United States (EXIM) and the Swedish export credit agency EKN have concluded a reinsurance agreement.
Sweden and US have concluded a reinsurance agreement
Interim Report January-April 2023: During the period EKN issued guarantees worth SEK 48.3 billion (SEK 28.0 billion) – the highest volume ever achieved during a first tertial. EKN’s guarantee offers also reached a record level.
Guarantee volumes at record levels
OECD has presented a principle proposal for the modernization of the international guidelines for export credits, where "green" transactions are rewarded.
Updated guidelines from OECD
EKN’s Annual Report 2022: EKN’s guarantees amounted to SEK 64.8 billion, exceeding SEK 60 billion for the third year in a row.
Third year with high guarantee volume
To secure access to raw materials for Swedish companies, EKN is launching a credit guarantee for imports for the first time. This entails an expansion of EKN’s mission.
New credit guarantee to secure Sweden’s access to raw materials
Interim report Jan-Apr 2022: During the period, the Swedish Export Credit Agency (EKN) issued guarantees for exports to a value of SEK 28 billion. While down on last year’s record, it matched the high level recorded in 2020. Russia’s invasion of Ukraine and the outbreak of war prompted EKN to immediately halt guarantees for export deliveries to Russia, Belarus and Ukraine.
Guarantee volume remains high in the first four months of 2022
Due to Russia's invasion of Ukraine, which took place from several directions, including Belarus, EKN has decided to put the country policy for these three countries under review.
EKN stops guarantees to Russia, Ukraine and Belarus
EKN's 2021 Annual Report: The guarantee volume (excluding temporary support measures) of SEK 77.1 billion was the second highest ever. Guarantees to Africa reached a record high of SEK 20.8 billion.
Guarantees at record highs in 2021
Debate: Money has a great potential to limit climate emissions and drive sustainable development forward. Therefore, SEK and EKN have considerable opportunities to influence investments, writes Swedish Export Credit Corporations’s CEO Magnus Montan and the Swedish Export Credit Agency's Director General Anna-Karin Jatko.
We must discuss the impact of Swedish export on the climate
EKN contributes to the financing of the third and last phase of the world’s largest offshore wind farm. Last year EKN provided guarantees for the financing of the purchases of supplies from Sweden through Hitachi Energy and NKT HV Cables AB for the first two phases.
EKN contributes to the completion of the world’s largest offshore wind farm
Anna-Karin Jatko, Director General, and Marie Aglert, Director of Business Area for Large Corporates, represent EKN at the UN climate change conference COP26 in Glasgow, Scotland.
EKN participates at COP26
The policy clarifies EKN’s approach in export transactions to operations with high negative climate impacts. The new wording is in line with the adaptation that EKN has done in the past years.
EKN’s Sustainability Policy has been updated
Interim Report Jan-Aug 2021: During the period EKN issued guarantee offers totaling SEK 56.7 billion, up 12 percent year-on-year. The guarantee volume amounted to 49.2 billion, the majority of which was attributable to a few large transactions at the front end of the year.
The number of SME-customers continues to increase
EKN has published new country risk analyses of four countries in Africa.
New country risk analyses
EKN is launching a new guarantee for exports that contribute to the climate transition. The Green Export Credit Guarantee, enables exporters and banks to insure up to 100 per cent of the value of a transaction to protect themselves from the risk of non-payment.
EKN launches Green Guarantee to promote climate investments
The Swedish Government has appointed Carina Lundberg Markow, Anna Lundmark Lundbergh, and Dag Juhlin-Dannefeltas as new members of the EKN board. Sven-Eric Söder has been appointed as Chairman of the board.
New members of the EKN board
The Scientific Climate Council, a group of academic experts, will provide advisory support to EKN and SEK to assist aligning the Swedish export finance system with the Paris Agreement’s 1.5°C goal. The climate council is the first of its kind in the world and will focus on issues such as the role of natural gas for the energy transition in low- and middle-income countries.
EKN and SEK establish a scientific climate council
During the period, EKN issued guarantee offers totalling SEK 26.8 billion, up 77 per cent year-on-year. The guarantee volume amounted to a record SEK 38.1 billion, the majority of which was attributable to just a few transactions. The number of SME customers reached a record-high number.
Renewable energy dominated the four-month period
In conjunction with EKN’s decision to withdraw conditional offers for guarantees for exports to Belarus with the buyers RUE Minskenergo and RUE Brestenergo, inaccuracies have been reported in the media. The following information is correct:
Concerning media coverage of EKN’s decision relating to Belarus
EKN has not issued any guarantees and will not do so. Based on a fresh analysis, EKN has concluded that the two projects in Belarus lack the necessary prerequisites to meet human rights requirements in compliance with international regulations. EKN has therefore decided not to issue any export credit guarantees.
EKN withdraws Belarus guarantee offers
Among the worlds' export credit agencies Swedish EKN has been recognized by GTR as Leader in Trade for Sustainability. The award is a testament to the export credit agency’s sustainability achievements throughout the course of 2020.
EKN recognized as Leader in Trade for Sustainability
OECD raises the limit on how much local content in a project that may be covered by export credit agencies. The change reflects the reality of today’s complex global value chains and the multinational sourcing in large infrastructure projects, in particular.
New OECD rules allow EKN to cover more local costs
EKN is currently evaluating and analyzing the situation in two projects in Belarus. EKN has outstanding binding guarantee offers regarding the payment risk in export transactions for these projects - two gas power plants.
Information regarding two export transactions to Belarus
EKN has appointed Nicole Pluntke as new Head of Unit for Infrastructure and Telecom within the Large Corporates business area. Swedish companies are at the forefront of these industries.
New Head of Unit for Infrastructure and Telecom
EKN's 2020 Annual Report: A record-high guarantee volume of SEK 119.1 billion encompassed historic levels for approved regular guarantees granted as well as extensive crisis measures.
Record-high guarantee volume for EKN in 2020
EKN has appointed Kristian Orrbeck as a new Head of Unit for Medtech, Industries and Commodities within the Large Corporates Business Area. The customer team currently handles a large number of transactions, which is expected to increase during 2021.
New Head of Unit for Medtech, Industry and Commodities
EKN’s Interim Report Jan–Aug 2020: EKN’s regular guarantee operations increased 27 per cent to SEK 52.1 billion year-on-year. Temporary crisis measures with working capital credit guarantees for large corporates amounted to SEK 52.1 billion.
Extensive crisis measures and expanded regular operations
An export finance system that contributes to climate transition.
EKN submits report to the Swedish Government
The government has decided to appoint Stefan Sjöquist as new board member of EKN for the coming year (July 1, 2020 – June 30, 2021).
New board member
EKN issued guarantee offers totalling more than SEK 120.7 billion in the first four months of 2020. The more than six-fold increase is due to booming demand for working capital credit guarantees. “They’ve given companies essential assistance for financing working capital during the crisis,” says Anna-Karin Jatko, Director-General of EKN.
Booming demand for EKN’s crisis measures
covering Working Capital Credit Financing for large companies.
Record interest for EKN’s guarantees
A new EU decision now enables EKN to insure short-term risk for export transactions within the EU and to high-income countries, which was previously not permitted.
EKN can now insure export transactions within the EU
On March 24, the World Bank Group and the IMF called upon Official Bilateral Creditors to suspend debt payments for the poorest countries of the world.
Debt service suspension for poorest countries
To support exporting companies.
New and extended guarantees from EKN
The need for EKN is higher in difficult times and the Swedish Government proposes in a bill to the Parliament to increase EKN’s statutory limit. EKN is preparing adjustments and extensions to accommodate the anticipated growth in demand.
The Government proposes an increase in EKN’s guarantee limit