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Now, it should be possible for everyone to see which companies get a loan guarantee from the state.
Finance Minister Jan Tore Sanner (H)
Ole Berg-Rusten / NTB Scanpix
published:,
In a letter to the Export Credit Guarantee Institute (GIEK), the Ministry of Finance requested that a plan be developed for the publication of companies receiving government loan guarantees. This is stated by the Ministry of Finance.
– Openness about who receives emergency aid from the state is important for the legitimacy of the schemes. We have clearly seen this through the compensation scheme, and it will also be important to the loan guarantee scheme. Today, therefore, I have asked GIEK to establish a transparency solution that provides the public with readily available information on borrowers, Finance Minister Jan Tore Sanner said in a statement.
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50 billion
On March 15 of this year, the government announced that it would provide government guarantees for corporate loans in a NOK 50 billion loan guarantee scheme. This, in addition to the Government Bond Fund, is intended to secure capital for companies in need in light of the crown crisis.
“The guarantee scheme for bank loans to companies implies considerable government support and the use of public funds,” writes the Ministry of Finance in the letter to Giek.
The ministry also writes that the scheme is based on banks administering it on behalf of the state, which includes both the terms of the law and the regulations that are followed before granting guaranteed loans.
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“Reduces the danger of misuse”
“Transparency in granting state aid under the scheme will contribute to verifiability and legitimacy and reduce the risk of misuse,” writes the ministry.
Giek has estimated that a solution could be in place 2-3 weeks after the decision. Costs are estimated at NOK 400,000 in annual license costs, as well as around 100,000 in annual development and maintenance costs. Giek has confirmed that these costs will be covered within the allocation of NOK 10 million for the administration of the loan guarantee scheme.
