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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.

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.

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.

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 Swedish Government has appointed Carina Lundberg Markow, Managing Director, Almi Företagspartner Värmland, Anna Lundmark Lundbergh, former Chief Strategist, Folksam and Dag Juhlin-Dannefelt, Ministry Director, Ministry of Foreign Affairs, as new members of the EKN board. Sven-Eric Söder, Director General, Folke Bernadotte Academy, has been appointed as Chairman of the board.

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:

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.

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 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.

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.