Sweden’s SEK and Bank of China have signed a €100mn master export credit facility for the financing of clean energy projects.

The agreement will facilitate the development of new, sustainable Swedish-Chinese solutions aimed primarily at reducing climate change and environmental degradation.

The facility works whereby SEK grants financing to Bank of China, which then provides loans to Chinese buyers with respect to their purchases under Swedish contracts.

“With reference to UN Global Compact´s 10 principles, SEK and Bank of China expect business to embrace, support and enact, within their sphere of influence, core values in the areas of environment, anti-corruption, human rights and labour standards,” says a statement issued by SEK.