Frequently asked questions about the Ukraine Faci­lity

Exporters or banks.

Applications can be submitted during 2025. EKN is able to issue guarantees as of 1 February 2025, when the regulation entered into force. Applications must be submitted well before the end of December 2025.

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.

EKN will consult with Sida for each application to confirm this before approving an offer.

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.

The risk of non-payment by the buyer. Standard conditions apply, with necessary adjustments due to the short time frame.

As of 1 June 2025, EKN will be able to issue guarantees for payments falling due up until 2035. Claims must be paid to the guarantee holder by the end of 2035. If the repayment period agreed with the Ukrainian buyer extends beyond that date, EKN cannot cover those payments.

EKN can cover up to 95 per cent of the guaranteed commitments. Losses will be shared proportionately between EKN and the guarantee holder.

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.

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).

EKN’s general conditions for the applicable products apply, with necessary amendments to accommodate the short time frame.

EKN’s existing guarantee options for exports to Ukraine do not cover defence materiel, which is why a separate guarantee facility has been established.

Purchases by the Ukrainian state of:

a) defence materiel or technical assistance for defence materiel, as defined in the Swedish Military Equipment Act (1992:1300) and the Military Equipment Ordinance (1992:1303), or

b) dual-use items or technical assistance for dual-use items under the Act (2000:1064) on the Control of Dual-Use Products and of Technical Assistance.

Yes.

The exporter or a bank can apply for an export credit guarantee for Ukraine.

EKN can only issue guarantees once the ordinance enters into force, on 29 July 2025, but applications may be submitted before that date.

Applications must be submitted well before 31 December 2025. EKN cannot approve applications received after 31 December 2025. The guarantee facility is limited, and applications under this ordinance will be processed in the order they are received.

EKN must settle any potential claims for non-payment before the end of 2030. Therefore, EKN will not be able to guarantee claims that fall due later than what can be managed within the claims settlement process, which is preliminarily set to August 2030. If the repayment period agreed with the Ukrainian buyer extends beyond this, EKN will not cover that risk.

EKN can cover up to 100 per cent of the guaranteed commitments, after an advance payment of 30 per cent. The terms of an export credit guarantee under the special Ukraine ordinance shall be designed so that the guarantee holder and EKN share losses proportionally and in the same manner.

The total guarantee facility EKN can issue under this ordinance is SEK 500 million for 2025. Guarantees can be applied for up to a maximum of SEK 100 million per applicant within the same corporate group, after the Ukrainian state or other co-financiers have paid an advance of at least 30 per cent of the purchase price.

EKN’s premium for the guarantee to Ukraine will be charged according to the minimum premium EKN must apply under international regulations, for a country in the highest country risk category (country risk category 7 out of 7).