Building a world-class export credit system

Why is EKN important?

“Sweden is one of the most export-dependent countries in the world, and our welfare state is largely based on successful trade. EKN plays a key role in supporting Swedish exporting companies by reducing the risk of non-payment to both companies and creditors, and by offering attractive financing to international projects that source Swedish technology and know-how.”

What are you most looking forward to in your new job?

“To help build a world-class export credit system that supports Swedish products and services on the global market. Given the increasingly challenging trade climate – with threats of tariffs and other geopolitical concerns – EKN needs to be both innovative and development oriented to meet the need for financing and risk mitigation in export transactions.”

How do you intend to meet these goals?

“By maintaining a continuous dialogue with our partners in the business and financial communities and adapt our products to reflect the changing needs.”

How does EKN seek to calibrate its offering?

“Global trade is constantly evolving – and so are the needs of exporters. We are constantly developing new instruments; one example is a new product that combines trade with aid. EKN offers export credit guarantees to low-income and lower middle-income countries, where part of the premium may be financed through Swedish development aid. The aim is to support projects that contribute to economic and social progress in the recipient country – particularly in areas such as infrastructure and health care, where Swedish expertise is world leading.”

“Another example is the raw material guarantee, which intends to secure the supply of critical raw materials to Swedish exporting companies. The guarantee ensures that the Swedish buyer is guaranteed a certain amount of material extracted by, for example, a new mine.”

“Yet another example is the expanded framework for special export credit guarantees for doing business with Ukraine. These guarantees allow for longer maturities and higher risk cover to help Swedish exporting companies rebuild Ukraine. This is an important step in Sweden’s contribution to the country’s reconstruction.”

From what I’ve heard, they also appreciate our pragmatic can-do approach and our willingness to share risk

How do you view your cooperation with clients and international banks?

“I enjoy cultivating my network of contacts within Swedish companies of all sizes as well as banks here at home and abroad. We are cooperating with large international banks on large international projects in infrastructure, mining, telecom and power generation, to name a few. One of the reasons international banks prefer to work with EKN is that our offering enables triple-A backed risk cover lending. From what I’ve heard, they also appreciate our pragmatic can-do approach and our willingness to share risk in 143 countries worldwide, including many notoriously challenging markets.”

What’s on top of your mind right now?

“Many Swedish companies currently enjoy an extremely favourable position on the world market. Their strength lies in their ability to deliver solutions to some of the biggest challenges of the rapid energy transition. These range from fossil-free transport and transmission of energy from renewable sources to equipment for sustainable mining required to supply the metals needed for the electrification of society. The mission of EKN is to help Swedish companies break into new markets, particularly those where alternative financing opportunities are lacking. Many of the transactions we support would not have happened without us, at least not on terms and conditions that the borrower can live with.”

What other trends are driving the demand for export credits right now?

“The demand for EKN guarantees has grown substantially in the past couple of years. In 2024, we issued new guarantees worth 103.6 billion SEK (approx. 10.9 billion USD), a record number. The Government has proposed raising the guarantee limit from 550 to 650 billion SEK (approx. 58.1 to 68.6 billion USD) next year.”

“The increasing demand partly stems from a strong growth in defence exports, fuelled by successful large corporations as well as a large network of subcontractors.”

Finally, what do you like most about your new job?

“What we do really matters to the Swedish export industry – that’s what motivates me every day. To cooperate with committed and knowledgeable colleagues and keep on building relations with exporters and banks here at home and worldwide.”