Norway plans to increase GIEK's budgetNews // December 9, 2013
The Norwegian government is planning to increase GIEK's guarantee framework by 10 billion kroner.
GIEK, which provides guarantees for ships and equipment exported from Norway, said it is "still experiencing high demand for export guarantees."
"With the government's proposal of an additional 10 billion kroner, GIEK's guarantee frame for the most widely used guarantee scheme will amount to 145 billion kroner in 2014," said GIEK. "In comparison, the frame was 40 billion kroner in 2005.
"For Norway, the offer of export financing means jobs, increased competence and better access to foreign markets. The government wants to organize a competitive export financing scheme," said Minister of Trade and Industry, Trond Giske.