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.

 

Ships and ship equipment
Export Credit Norway finance a number of  vessels, including offshore vessels, passenger vessels, well boats, car ferries and fishing vessels. In addition, we offer loans associated with the supply of equipment for ships built at foreign shipyards.

Most of the loans in these segments have maturities of up to 12 years.

Equipment for the oil and gas industry
Accounted for 33 per cent of our loan portfolio in 2016. Export Credit Norway typically participates in large loan syndicates involving commercial banks and other export financing institutions. Maximum repayment period is 8.5 years.

Onshore industry, environmental technology and the marine sector
Export Credit Norway offers financing for onshore industries, including ICT, infrastructure, renewable energy and environmental technology, as well as for aquaculture equipment. About 70 per cent of applications received in these segments are in connection with deliveries from small and medium-sized export companies.

In collaboration with GIEK, Export Credit Norway has made it cheaper and simpler to finance small and medium-sized export contracts.

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.

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.

 

Ships and ship equipment
Export Credit Norway finance a number of  vessels, including offshore vessels, passenger vessels, well boats, car ferries and fishing vessels. In addition, we offer loans associated with the supply of equipment for ships built at foreign shipyards.

Most of the loans in these segments have maturities of up to 12 years.

Equipment for the oil and gas industry
Accounted for 33 per cent of our loan portfolio in 2016. Export Credit Norway typically participates in large loan syndicates involving commercial banks and other export financing institutions. Maximum repayment period is 8.5 years.

Onshore industry, environmental technology and the marine sector
Export Credit Norway offers financing for onshore industries, including ICT, infrastructure, renewable energy and environmental technology, as well as for aquaculture equipment. About 70 per cent of applications received in these segments are in connection with deliveries from small and medium-sized export companies.

In collaboration with GIEK, Export Credit Norway has made it cheaper and simpler to finance small and medium-sized export contracts.

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.

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 Director of Lending - Ocean Industries
m: +47 995 85 074 m: +47 995 85 074
Ivar Slengesol Director of Lending - Industry and Clean Technologies
m: +47 991 14 110 m: +47 991 14 110