Press release
18 September 2009
Ministry for Foreign Affairs
Government proposes increased export credit guarantees
For 2010, the Government is proposing:
- an increase in the Swedish Export Credits Guarantee Board's limit for export credit guarantees from SEK 350 billion to SEK 500 billion; and
- an extension of the Swedish Export Credit Corporation's lending limit of SEK 100 billion and of the credit guarantee for borrowing, but to no more than SEK 250 billion at the Swedish National Debt Office (compared to SEK 450 billion for 2009).
Background
To counter the effects of the financial crisis on companies' possibilities to finance export deals, the Government and the Riksdag decided at the end of 2008 to increase the capacity of the Swedish Export Credit Corporation to finance export deals of interest to Sweden. This was made possible thanks to an injection of capital that will increase the Corporation's capacity to finance deals that would previously have been dealt with by private banks (Government Bill 2008/09:73). In order to further strengthen the Corporation's lending capacity, the Government and the Riksdag passed a measure (Government Bill 2008/09:86) providing the possibility to take loans, issued on market terms, of SEK 100 billion from the Swedish National Debt Office, and to obtain state guarantees for loans of up to SEK 450 billion.
At the same time, the limit for export credit guarantees issued by the Swedish Export Credits Guarantee Board was raised from SEK 200 billion to SEK 350 billion (Government Bill 2008/09:86).
Contact
Monica OhlssonPress Secretary on parental leave
+46 8 405 10 00
