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News

New state guarantee scheme for package tour operators

From 23 June 2021, banks and insurance companies will be able to apply for state relief from the guarantees that they provide to the Travel Guarantee Fund on behalf of small and medium-sized package tour operators. The new scheme will be managed by GIEK until 1 July, when it will be taken over by the newly established Eksportfinansiering Norge (Eksfin). Read More

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GIEK and Export Credit Norway will merge 1 July | Export Finance Norway (Eksfin) will be an accessible and effective supporter of the business sector

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

Otto Søberg, CEO Eksportkreditt Norge
News

Strong desire for change from a hard-pressed business sector

The Covid-19 pandemic made its impact felt on the global economy for most of 2020. Great uncertainty and lower levels of activity as a result of strict infection-control measures globally led to a hugely challenging year for Norwegian export companies. The Norwegian business sector continued to experience great uncertainty in… Read More

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Guidelines for Labour Rights Assessments at Shipyards developed by GIEK

GIEK (The Norwegian Export Credit Guarantee Agency) has had a strong focus on working conditions at shipyards for over a decade, and in many cases have observed labour rights related risks and issues at the yards. Having poor controls of labour rights, as well as poor working conditions at a shipyard should not be a competitive advantage. We have therefore seen a need for a practical guidance on labour rights risks and working conditions in the sector, as well as guidelines for assessing such risks. Read More

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Greener offshore sector financed by GIEK

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

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Sustainability – a key part of our due diligence work

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