Exporter or borrower must apply for export financing before signing the contract. Financing is linked to deliveries from companies in Norway or from Norwegian subsidiaries abroad. Other elements that promote Norwegian interests and Norwegian value creation are also considered as part of the assessment.
All loans must be guaranteed by GIEK and/or one or more financial institutions.
The repayment period varies from two to 18 years depending on the project type. Maximum repayment periods are as follows:
- For capital goods: 8.5 years
- For projects in developing countries: 10 years
- For ships and ship equipment: 12 years
- For project funding: 14 years
- For renewable energy, water supply and sewerage projects: 18 years
The repayment period will depend on the credit assesment of each transaction.