The Swedish government is proposing to increase its export credit agency, EKN’s framework for export credit guarantees from SEK350bn to SEK500bn. The announcement was made in the government’s 2010 budget proposals.
“This is very encouraging, and will be well received by the companies. It means that we can continue to say yes to sound business deals,” says EKN’s director-general Karin Apelman.
According to the ministry for foreign affairs, the government is also proposing an extension to EKN’s loan limit of SEK100bn, and to the credit guarantee for borrowing, though to a maximum of SEK250bn at Riksgälden (the Swedish national debt office), compared to SEK450bn for 2009.
Earlier this month, the Swedish export credit agency announced that demand for guarantees had increased nine-fold during the first half of 2009 compared to the corresponding period in 2008.
The total amount of offers during the first half of 2009 was just over SEK200bn, compared to SEK22bn for the corresponding period in 2008.
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