Newsroom

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.

Following a Government assignment, the Swedish Export Credit Agency (EKN) submits a report, dated 4th September 2020. The report, a joint effort by EKN and Svensk Exportkredit (SEK), presents an analysis and eight proposals for how the Swedish and international export credit systems can contribute to climate transition and a significant decrease in greenhouse gas emissions.

The government has decided to appoint Stefan Sjöquist as new board member of EKN for the coming year (July 1, 2020 – June 30, 2021).

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.

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. “Over 80 per cent of Sweden’s exports are to the EU, Norway and North America. Therefore, it is crucial for Sweden to be able to maintain these trading flows,” says Anna-Karin Jatko, Director General of EKN.

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.

On 20 March, EKN presented new and expanded guarantees to assist exporters in managing the effects of the Covid-19 pandemic. One of these guarantees is aimed directly at large companies.

EKN has been commissioned by the Government to review how the Swedish and international export credit systems will contribute to sustainable energy and sharply reduced greenhouse gas emissions.

The Board of EKN, the Swedish Export Credit Agency, has decided on a timeline for the phase-out of export credit guarantees for Swedish exports to coal mining.