Swedish export credit agency EKN’s framework for export credit guarantees has been increased from SEK350bn to SEK500bn.

This follows a decision made by the Swedish parliament on December 17 that the increased guarantee framework be put in place from January 1, 2010. The proposal was originally made by the Swedish government in September last year.

“This is a welcome decision,” says EKN's director general Karin Apelman. “We now start the new year well-equipped to respond to Swedish export’s demand for our services, with increased scope for new transactions. At the same time, I would stress that it is still important that all EKN's guarantee commitments are risk-weighted, economically sound transactions which benefit both export companies and EKN."