Browse by year:


State Aid

State Aid: New pricing mechanism for Export Credit Norway approved

20.3.2013

PR(13)22

Today, the EFTA Surveillance Authority decided that the new pricing mechanism for loans issued by Export Credit Norway is sufficient to ensure that export loans will be market priced and not result in the granting of state aid.

Export Credit Norway was set up in July 2012 to replace Eksportfinans, the company that had previously managed the Norwegian export credit system.

Export credits are loans granted to the customers of exporters in order to finance the acquisition of goods or services. The provision of export finance is regulated by the OECD under the Arrangement on Officially Supported Export Credits.

The Authority investigated the new pricing mechanism to ensure that market loans issued by Export Credit Norway will not result in the granting of state aid to borrowers. In particular, the Authority assessed the use of various sources of market information that will be employed to determine the prevailing market price level, which Export Credit Norway is not allowed to undercut.

The Authority concluded that the proposed pricing mechanism ensured that Export Credit Norway would not issue loans below market price. Accordingly, it decided that the pricing mechanism prevented the granting of state aid to borrowers of export credit loans.

A public version of today's decision will be published on the Authority's website, normally within a month.

 

For further information, please contact:

Mr. Trygve Mellvang-Berg
Press & Information Officer
tel. (+32)(0)2 286 18 66
mob. (+32)(0)492 900 187




Other EEA Institutions


imgbanner3
This website is built with Eplica CMS