49 billion NOK (€4.3 billion) in new guarantees, significant share of green transactions, substantial value recovery, and a more diversified portfolio including large and small enterprises. Read More
Sanctions against Russia has been a topic of increasing importance since the illegal annexation of Crimea in 2014, but the sanctions rapidly imposed by the EU, US and UK since end of February exceeds anything we have seen before in numbers and content, as well as coordination between sanctions authorities. Read More
Ms. Tone Lunde Bakker has been appointed CEO of Export Finance Norway, which is due to be launched on 1 July 2021. We congratulate her on this important role in promoting Norwegian exports, and are pleased to have her on board. Read More
Oslo-headquartered Export Finance Norway (Eksfin.no), the result of a merger between former government agencies GIEK and Export Credit Norway, has opened its doors and is fully operational from 1 July 2021. Read More
Export Finance Norway (Eksfin) will launch on 1 July following the merger of GIEK and Export Credit Norway. The new agency will assist Norwegian businesses, foreign purchasers and their banks with a broad range of state-backed loans, guarantees and expert advice. All current schemes and commitments will continue under Eksfin, and the Norwegian State will maintain its existing obligations. Read More
Nearly half of all GIEK’s new guarantee liabilities in 2020, amounting to NOK 7.6 billion (EUR 722 million), were linked to extensive Norwegian exports to offshore wind farms around the world. GIEK also implemented three emergency finance schemes in response to the Covid-19 pandemic, and adopted new measures to contain growing risk in its offshore oil and gas portfolio. Read More
The Brødrene Aa shipyard in Nordfjord will build three environmentally friendly high-speed boats for the Attica Group, which is the largest ferry operator in Greece. The three catamarans will transport passengers in the eastern Mediterranean. Read More
On 1st of July 2021, Export Credit Norway and The Norwegian Export Credit Guarantee Agency (GIEK) will merge into Export Finance Norway (Eksfin), Eksportfinansiering Norge in Norwegian. Read More
For the first time GIEK has provided financing for the installation of battery packs onboard two platform service vessels (PSVs). The hybrid propulsion helps secure new contracts for the ships, Norwegian companies deliver the hardware and installation, and Norwegian emissions are reduced. The industry appreciates GIEK’s support. (Photo: Gunder Tande Sandersen) Read More
By Kamil Zabielski, Head of Sustainability at GIEK Sustainability, including environmental, social and financial aspects, is a key part of GIEK’s due diligence work. GIEK has been an active contributor to ECA guidelines and the regulatory framework that promotes sustainable business. GIEK’s work on sustainability is aimed both at reducing our clients’ business risks, as well as contributing to Norway’s work on the Agenda 2030 and the Sustainable Development Goals (SDGs). Read More
