Frequently asked questions about the Ukraine Facility
Here we collect the most frequently asked questions about our guarantee regulation on export credit guarantees to Ukraine, the "Ukraine Facility". The revised regulation will enter into force on February 1st , 2025.
This page is being updated
2025-05-05 Please note that this page is currently being updated and some information may be out of date. Do not hesitate to contact us at EKN if you have any questions or require prompt assistance.
1. General questions
Who can apply for a guarantee (credit risk insurance)?
Exporters or banks.
Which guarantee product should I apply for?
There are no new specific products for this facility. The Guarantee for Trade Receivables is used for credit periods not exceeding 12 months, while the Guarantee for Loss on Claim is used for credit periods exceeding 12 months. For banks, the Buyer Credit Guarantee applies.
How to apply?
The standard application process applies for the relevant guarantees.
When can I apply?
The regulation enters into force on 1 February 2025, but applications can be submitted to EKN before that date. Applications must be received by EKN well before the end of 2025, as EKN cannot approve applications after 31 December 2025. Applications will be processed in the order they are received by EKN.
2. Special conditions for guarantee
Which transactions can be covered?
The transaction must promote and contribute to the economic development and welfare of Ukraine. EKN will consult with Sida (the Swedish International Development Cooperation Agency) for each transaction to confirm this condition.
The Ukraine facility covers losses related to the export of goods and services to Ukraine.
How do I know if my transaction will be classified as aid?
EKN will consult with Sida for each application to confirm this before approving an offer.
Can EKN guarantee transactions to Ukraine that are not within this facility?
Exporters or banks can already apply for cover if a letter of credit (confirmed or unconfirmed) has been issued to secure payment from the Ukrainian buyer. The maximum deferred payment period is 360 days. This falls under EKN’s ordinary credit risk insurance policy for Ukraine.
What does the guarantee cover?
The risk of non-payment by the buyer. Standard conditions apply, with necessary adjustments due to the short time frame.
What is the maximum credit period?
The funds for losses are only available until the end of 2028. Claims must be paid to the guarantee holder by 31 December 2028, so EKN cannot cover claims falling due after (preliminary) August 2028. If the repayment period in the contract extends beyond that date, EKN cannot cover those payments.
What is the coverage?
EKN can cover up to 95 per cent of the guaranteed commitments. Losses will be shared proportionately between EKN and the guarantee holder.
What is the maximum amount?
The total guarantee facility is 888 million SEK (approximately 77 million EUR). A maximum of 300 million SEK (approximately 26 million EUR) is available per applying company group. This limit per transaction will not apply if funds remain available six months before the facility’s end, that is, by 1 July 2025.
What is the cost?
EKN will charge the minimum premiums in accordance with international regulations for a country in the highest risk category (country risk category 7 of 7).
What are the general conditions?
EKN’s general conditions for the applicable products apply, with necessary amendments to accommodate the short time frame.
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