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New assignment: Defence exports to Ukraine with support from EKN guarantees
EKN has been tasked with supporting defence equipment exports to Ukraine through export credit guarantees. A new EKN regulation will come into force on 29 July, enabling this.
The purpose of the defence export guarantees is to make the Swedish defence industry's innovative, high-tech solutions available to Ukraine by enabling Swedish companies to insure themselves against financial risks. EKN can issue guarantees for this up to SEK 500 million.
"It is very positive that Swedish defence companies now have access to credit insurance for business with Ukraine. This opens opportunities for defence equipment exports to Ukraine, which is in great need of equipment in many areas," says EKN's Director General Anna-Karin Jatko.
“Sweden has many small and medium-sized companies with technical solutions developed for civilian use that can also be used for military purposes. They are now gaining an additional financing tool for their business,” says Anna-Karin Jatko.
With this new assignment, EKN is offering two special guarantees for Ukraine. One is for defence exports, and the other is for exports aimed at rebuilding the country, which EKN was already asked to offer last year. As with the previously decided guarantee, the premium for the defence export guarantee will not reflect risk, which is otherwise a requirement under EKN's regulations.
