This means that we cannot provide financing for raw materials and consumables.
The OECD arrangement also governs matters such as the interest-rate level and loan period. Borrower is required to pay a minimum of 15 percent of the export contract’s value directly to the exporter before the loan can be disbursed by Export Credit Norway. In ship-related transactions, the minimum cash contribution is 20 percent. The cash contribution is subject to credit assesment.
Export Credit Norway sets environmental and social requirements for the projects we fund, in accordance with international guidelines. At least 30 percent of the financing amount must comprise Norwegian value creation.
Subject to certain conditions, we can also provide financing for deliveries by Norwegian subsidiaries abroad.
Terms and conditions:
- Always apply for export financing from Export Credit Norway before signing the contract.
- The repayment period is normally up to 8,5 years. Export credit for ships qualify for a repayment period of up to 12 years, and renewable energy and climate change mitigation projects qualify for up to 18 years repayment. The repayment period will depend on the credit assesment of each transaction.
- Local content in the project may also be partly supported as part of the financing.
- 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.