The Norwegian Export Credit Guarantee Agency (GIEK) is a public enterprise under the Ministry of Trade, Industry and Fisheries (MTIF), and issues guarantees on behalf of the Norwegian state. GIEK’s mandate is to promote Norwegian exports, ensure Norwegian value creation and serve as a good financial partner and adviser for Norwegian exporters by issuing guarantees on behalf of the state. GIEK is a supplement to the commercial banking market, with financial results that will break even over time.
Our guarantees are adapted to the needs of Norwegian export companies and foreign buyers, covering both political and commercial risk on loans issued by commercial banks or Export Credit Norway. Guarantees can be provided where Norwegian goods or services are delivered abroad, or where an export transaction in some other way promotes Norwegian value creation. GIEK guarantees for export to countries across the world.
Norwegian guarantees mean a high degree of security for exporters as well as banks. Our guarantees increase the competitiveness of Norwegian goods and services in the international market.
The Government and Parliament govern GIEK through GIEK's guarantee scheme regulations, main instructions, annual letter of allocation, and the state budget. The guarantees scheme is organized and managed in accordance with the OECD Export Credits Arrangement. It is also bound by a number of agreements through its memberships of the Berne Union and the Paris Club.
GIEK’s offices are located at Aker Brygge in Oslo. Its 94 employees were administering guarantees totalling NOK 89.3 billion as of 31 December 2014.
Read more about GIEK on the Government’s website.