The Export Credits Guarantee Board (EKN) offers long-term financing; Svensk Exportkredit handles short-term financing.
The EKN, which is 100% state owned, covers both political and commercial risk. The main categories are medium (1–5 years) and long (five years +). Short-term cover is available but only to guarantee letters of credit. Medium- and long-term cover encompasses risks for loss on claim and on production and investment risks. Although the cover term is determined by the nature of the product involved, medium-term cover is typically used for engineering goods, including lorries, whereas long-term cover is used for large-scale plants. For the most part, long-term cover relates to exports to developing countries and former state trading countries; it is fundamentally restricted to the export of capital goods (especially heavy goods) and ancillary services.
