In February 2008, 11 local governments received support in total amount of 17.8 million kroons to solve housing problems of social risk groups. In total, 38 local governments submitted an application for solving housing problems of social risk groups.

In February 2008, a cooperation agreement was issued with Enterprise Estonia, by which the foundation was laid for cooperation upon processing and deciding the Start Up Loans.

 

In February 2008, took effect thoroughly updated cooperation agreements with banks. The purpose of renewal was to update previous agreements and make them more clarified and better manageable. With new agreements, KredEx started to offer a proportional guarantee (or guarantee based on loss sharing) of enterprise loans widely used elsewhere in the world, in more favorable terms.

 

In March 2008, Start Loan meant for starting enterprises was introduced to the market in cooperation with Enterprise Estonia and banks, enabling entrepreneurs to manage risks related to entrepreneurship and loan as, upon borrowing, fewer risks need to be taken with personal property - compared to ordinary loan.

 

In April 2008, KredEx opened the receipt of applications for the reconstruction work of apartment buildings built before 1940 (incl.) or located in an area of cultural and environmental value. Pursuant to the agreement concluded between Ministry of Economic Affairs and Communications and KredEx, 14.2 million EEK was allocated in 2008 for the reconstruction work of apartment buildings built before 1940 or located in an area of cultural and environmental value.

 

In May 2008, a public procurement was carried out to create the homepage „Counselling and informing the inhabitants of areas of cultural and environmental value” and for its technical management and substantive preparation. The aim for the creation of the homepage is to enhance awareness of the people living in areas of cultural and environmental value of the value of their surroundings, building heritage belonging to them, and their living environment as well as of restoration and sustainable renovation; gather information about different best examples of preservation of areas of cultural and environmental value – examples of dwellings, calm traffic areas and public areas from all Estonia and give the people an opportunity to use a forum for discussing different issues related to areas of cultural and environmental value.

 

In May 2008, Government of the Republic gave approval of principle to increase volumes of medium- and long-term export guarantees. On the basis of approval, preparations for issuing guarantees were started and, according to plans, the limit of simultaneously effective guarantees will be raised from previous 1 billion kroons up to at least 3 billion kroons.

 

In June 2008, a grant round Housing grant was opened for families with many children. The national non-repayable grant for improving the housing conditions is meant for the families, where there are at least four children under the age of 19 and where the income per one member of the household has been up to 6000 kroons per month according to the last two years’ income tax declaration. As a grant, the state will finance part of the value of work done/housing acquired. Grant application was submitted by 1,546 families.

 

In June 2008, with a decision of the Board, limit of guarantees of bank guarantees (guarantee bonds) was increased to 23.4 million kroons and the Estonian branch of AB bankas “Snoras” was accepted as a partner of KredEx.

 

In June 2008, a mezzanine financing seminar of AECM - association connecting European loan guarantee organisations – was held in KredEx, in which 15 members of nine different countries (Germany, Portugal, Italy, Belgium, Romania, Czech, Austria and Lithuania) took part.

 

In October 2008, the updated strategy of KredEx for years 2008-2011 was approved. The strategy determines the main goals, activity directions and principles and predicted financial projections of KredEx.

 

In November 2008, KredEx Energy Efficiency Consulting Centre (ESK) carried out a two-week publicity campaign concerning energy efficiency „Fix Your House!” The main goal of the campaign is to increase the awareness of people living in apartment buildings concerning energy efficiency, drawing their attention to the fact that by renovating an apartment building one can significantly cut the heating expenses.

In December 2008, the Estonian parliament Riigikogu passed an amendment to Support of Enterprise and State Loan Guarantees Act, providing a clarified and unambiguous state guarantee status  to KredEx guarantees. Clarification of state participation and responsibilities will ensure the banks that loan guarantees will not be compromised by lack of funds from guarantee provider. In that case, guarantee responsibility will pass to the state. In total, it lets the loans become more accessible for enterprises and step up entrepreneurship.

 

In December 2008, the Minister of Economic Affairs and Communications approved the apartment building loans program with the purpose to provide apartment buildings with a loan with lower interest than market price for work related to energy saving using resources offered by European structural funds and outside investors.

In December 2008, measures for a state support package for exporting enterprises were developed. The intention is to provide enterprises with long-term loans together with banks, which allows enterprises to complete their investment plans or to continue export-oriented activities using loan extension or additional loan; providing success based subordinated loan, which allows enterprises to maintain their competitiveness and, through additional marketing opportunities, even to raise it, and credit line for banks which allows banks to obtain resources more favourably and relend them to enterprises on reasonable terms. Furthermore, there are plans to raise the loan guarantees limits set out for KredEx from 1.7 billion kroons so far up to 3 billion kroons, and export guarantee limits from 1 billion kroons so far up to 3 billion kroons.