Press release | Date: 12/02/2021
From the 1st of July 2021, Export Credit Norway and The Norwegian Export Credit Guarantee Agency (GIEK) merge into Export Finance Norway (Eksfin), Eksportfinansiering Norge in Norwegian.
-Export and trade are crucial for the Norwegian economy. Together with the business community, the Government is looking at opportunities to increase Norwegian exports. Export Credit Norway and GIEK have been central instruments to this end. Export Finance Norway (Eksfin) will have an important role in our strategic work on exports going ahead, says Iselin Nybø, Minister of Trade and Industry.
The schemes and offers that Export Credit Norway and GIEK manage today will be continued in Eksfin. The main task of Eksfin will be to manage credit and guarantee schemes. Eksfin will be a government entity, a so-called administrative enterprise, with the purpose of being an efficient manager of financing schemes for value-adding exports.
At the turn of the year, GIEK and Export Credit Norway had outstanding guarantees for NOK 80 billion and loans for NOK 51 billion, respectively.
The merger is a part of the government's action plan for exports and was a recommendation made in the "area review" of the business-oriented system of public instruments. According to the review, the merger will offer better quality, greater efficiency and a more transparent service for users. The Parliament (Stortinget) will make a resolution on budget ceilings for Eksfin.