GIEK promotes Norwegian exports

GIEK facilitates exports from large and small companies. Our guarantees trigger financing, or mitigate the risk of loss – for the exporting company, the buyer or the bank.


With a GIEK guarantee:

  • Buyers of Norwegian exports can obtain competitive debt financing.
  • Exporters and their banks can mitigate risk of non-payment.
  • Exporters, buyers and banks can reduce their financial costs.

GIEK guarantees are AAA-rated.

Advantages for Norwegian exporters:

  • Increased competitiveness - offer long-term financing to customers.
  • Improved liquidity - no need to wait for payment.
  • We are happy to meet your customer to explain the Norwegian credit scheme.

Click here for information about Maritime and Offshore export financing.


What can GIEK guarantee?

Guarantees can only be issued for exports of Norwegian goods or services, or for export transactions that promote Norwegian wealth creation in other ways.

GIEK can assist with both the exporter’s and the buyer’s financing needs, and in special cases even when the buyer is Norwegian. A guarantee may also be available for exports from an overseas subsidiary. Norwegian companies investing in greenfield projects may also apply for guarantees, even if a majority of deliveries come from third countries.

GIEK can cover both political and commercial risks associated with exports to most countries. See our Country risk pages for details on how GIEK view assesses different countries.

To ensure that the transaction is in accordance with regulations and ethical guidelines, GIEK undertakes a thorough assessement of the buyer’s creditworthiness before issuing a guarantee offer.

If the overall risk is acceptable to GIEK, a guarantee offer is given. After the guarantee is issued, the transaction may go ahead. If something goes wrong, GIEK pays out under the guarantee.

If a Norwegian export contract is in danger of being lost because our competitors are offering better financial terms, GIEK is flexible. In certain circumstances matching is permitted under the OECD Arrangement on export financing. The risk of being matched tends to ensure that export credit institutions stick to the rules.

- Exporting to a country under reconstruction involves a lot of risk. We have good experience working with GIEK on previous projects and we knew GIEK had the required risk analysis expertise, says Merethe Fjeldstad, Internal Communication Adviser, Bergen Engines

More cases


Obtain a cost estimate

Upon issuing a guarantee, GIEK charges a premium that is generally calculated as a one-time premium. However, an annual premium is possible in cases of bank participation exceeding 20 per cent.

The premium amount is calculated based on the repayment period, and:

  • Buyer creditworthiness: GIEK assesses the customer’s creditworthiness, i.e. the probability of default by the customer.
  • Political conditions in the buyer’s country: GIEK assesses the risk that political unrest or other political events and actions in the buyer’s country may affect  servicing of loans.

Calculate a cost estimate for buyer credit and supplier credit guarantees.


GIEK and Export Credit Norway

Both GIEK and Export Credit Norway represent the Norwegian state. We co-operate closely on many export contracts: GIEK as guarantor, Export Credit Norway as lender.

Both the exporter and his/her customer must apply for the loan. GIEK performs a credit assessment of the buyer. After credit approval, Export Credit Norway completes the loan transaction. The loan is disbursed when the delivery takes place.

Try our Product guide to find a guarantee suitable for your needs.


Relevant guarantees for exporters

GIEK can provide a guarantee to a bank that finances a company’s investments in Norway. The investment must directly or indirectly lead to export.

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This guarantee can be provided to Norwegian exporters that need financing of production costs linked to a specific export contract

Read more