Export financing

Export Credit Norway offer export financing to buyers of Norwegian capital goods and services worldwide.

Norway’s long-term, government-backed export financing system consists of two actors: Export Credit Norway AS, which provides loans, and the Norwegian Export Credit Guarantee Agency (GIEK), which issues guarantees. The public-sector export financing system is intended as a supplement to commercial financial institutions.

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The OECD agreement titled “Arrangement on Officially Supported Export Credits” regulates publicly supported export credits and export credit guarantees with a repayment term of two years or more. It is a “gentlemen’s agreement” among Australia, Canada, the EU, Japan, New Zealand, Norway, Switzerland, South Korea and the United States. The minimum interest rates on new loans are adjusted monthly.

 

Energy and industry

The energy and industry portfolio comprises renewable energy projects, energy-related oil and gas equipment deliveries, and projects in sub-segments including infrastructure, ICT, biotechnology, water and sanitation equipment, defence technology and environmental technology.

Shipping

Export Credit Norway’s shipping portfolio comprises loans relating to all types of ships other than vessels used for fisheries and aquaculture purposes. In practice, the largest sub-segments are miscellaneous offshore support vessels, smaller cruise ships, passenger vessels and merchant shipping.

Fisheries and aquaculture

The fisheries and aquaculture portfolio includes loans for fishing boats and equipment for the fisheries industry, as well as equipment and ships used in the aquaculture industry, such as offshore fish cages, wellboats and workboats.

You can apply for export financing through a step-by-step digital process on our website. Among other things, you will need to provide information and answer questions about the purchaser, the exporter and the product/service being exported. You will also have to confirm that your firm agrees to our rules on anti-corruption, reporting/publication and sharing of information with guarantors. The information you provide is collated in a PDF document which you then confirm electronically by Bank ID signature or by physical signature of a paper copy. The application has two parts. The first part is typically completed by the exporter, and the second by the purchaser later on. However, the order in which the application is completed is immaterial – the most important thing is that one of the parties submits an application before the export contract is signed.

The maximum term is generally 8.5 years. For loans under NOK 100 million, a five-year repayment period is offered. The OECD export financing agreement allows for especially favourable financing terms for renewable energy and water projects. Export Credit Norway can therefore offer fixed CIRR interest rates with a maturity of up to 18 years for such projects, depending on the risk profile of the individual transaction.

The OECD agreement titled “Arrangement on Officially Supported Export Credits” regulates publicly supported export credits and export credit guarantees with a repayment term of two years or more. It is a “gentlemen’s agreement” among Australia, Canada, the EU, Japan, New Zealand, Norway, Switzerland, South Korea and the United States. The minimum interest rates on new loans are adjusted monthly.

 

Energy and industry

The energy and industry portfolio comprises renewable energy projects, energy-related oil and gas equipment deliveries, and projects in sub-segments including infrastructure, ICT, biotechnology, water and sanitation equipment, defence technology and environmental technology.

Shipping

Export Credit Norway’s shipping portfolio comprises loans relating to all types of ships other than vessels used for fisheries and aquaculture purposes. In practice, the largest sub-segments are miscellaneous offshore support vessels, smaller cruise ships, passenger vessels and merchant shipping.

Fisheries and aquaculture

The fisheries and aquaculture portfolio includes loans for fishing boats and equipment for the fisheries industry, as well as equipment and ships used in the aquaculture industry, such as offshore fish cages, wellboats and workboats.

You can apply for export financing through a step-by-step digital process on our website. Among other things, you will need to provide information and answer questions about the purchaser, the exporter and the product/service being exported. You will also have to confirm that your firm agrees to our rules on anti-corruption, reporting/publication and sharing of information with guarantors. The information you provide is collated in a PDF document which you then confirm electronically by Bank ID signature or by physical signature of a paper copy. The application has two parts. The first part is typically completed by the exporter, and the second by the purchaser later on. However, the order in which the application is completed is immaterial – the most important thing is that one of the parties submits an application before the export contract is signed.

The maximum term is generally 8.5 years. For loans under NOK 100 million, a five-year repayment period is offered. The OECD export financing agreement allows for especially favourable financing terms for renewable energy and water projects. Export Credit Norway can therefore offer fixed CIRR interest rates with a maturity of up to 18 years for such projects, depending on the risk profile of the individual transaction.

Olav Einar Rygg Head of Lending
m: +47 995 85 074 m: +47 995 85 074
Ivar Slengesol Director Strategy and Business Development
m: +47 991 14 110 m: +47 991 14 110