Swedish export credit agency EKN has named finance ministry official Åke Nordlander as its incoming director-general, as Anna-Karin Jatko’s nine-year stint in the role comes to an end.
Nordlander takes up the position from September 1, with his tenure due to run until 2031. He is currently head of budget at Sweden’s Ministry of Finance, and has served on EKN’s board since 2015.
EKN heads are appointed by the Swedish government with a fixed term of six years, which can be extended by a further three years.
Jatko, who has served the maximum term of nine years in charge of the agency, says the appointment means EKN “is well equipped to continue promoting Swedish exports at a time when the playing field is changing and expanding”.
Foreign trade and development cooperation minister Benjamin Dousa adds: “I am delighted that Åke Nordlander has accepted the position of director general and head of EKN. The agency plays a central role in the government’s support for the internationalisation and export financing of Swedish companies.”
The appointment comes during a period of evolution within the agency’s product offering.
Last month, the Swedish government adopted an ordinance tasking EKN with managing a new instrument that combines export finance with development aid.
The instrument comprises an EKN guarantee, a loan from SEK and grant funding to reduce borrowing costs for Swedish companies’ customers. It is designed to promote sustainable development in eligible countries while supporting Swedish providers of goods and services.
It is aimed at low and lower-middle-income countries, with grants available up to SEK1.23bn (US$129mn). The ordinance took effect on August 1.
Jatko said at the time the instrument means innovative Swedish companies “can enable the development of vital infrastructure such as railways, water treatment, electrification and energy supply”.
The agency has also been assigned responsibility for facilitating the provision of defence equipment to Ukraine through the use of export credit guarantees.
A regulation that took effect on July 29 enables EKN to issue guarantees up to SEK500mn (US$52mn), enabling Swedish providers of hi-tech defence solutions to insure themselves against financial risks.
The guarantee adds to an existing EKN offering for exports aimed at rebuilding Ukraine, which was introduced last year. Unlike other EKN products, the premiums charged for both guarantees are not based on the underlying risk.
