Deal to provide insurance for export of goods for projects Turkish, Swedish firms jointly conduct in 3rd countries.
The export credit agencies of Sweden and Turkey inked an agreement to provide insurance for firms which jointly undertake projects in third countries, according to a statement from Turk Eximbank.
“Negotiations regarding the deal between Turk Eximbank and the Swedish Export Credit Agency (EKN) has been completed and entered into force,” the statement read.
Noting that the agreement aims to ensure a faster and more efficient loan allocation process, it said: “The deal will provide insurance support for the export of goods and services for projects Turkish and Swedish companies conduct together in other countries.”
Turk Eximbank has previously signed similar agreements with export credit institutions of the U.S., the UK, France, Austria, Hungary and Denmark.
In 2020, Turk Eximbank provided financing – both loans and insurance – worth USD 45.6bn billion, up 3.6% from the previous year.