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December

  • 30. December 2003

    KredEx aims to double the guaranteed export sales

    Compared to 2002, the export sales guaranteed by KredEx in 2003 have risen by 50% from 112 million kroons to 168 million kroons. In 2004 KredEx aims to guarantee Estonian export sales in the volume of 350 million kroons.
  • 09. December 2003

    KredEx supports the local municipalities with 12.9 million kroons

    The committe chosen by the Ministry of Economic Affairs and Communications has decided to support 7 local municipalities in Estonia in the total amount of 12.9 million kroons. The support money will be used for purchasing, building or renovating apartments for the tenants of restituted buildings in Estonia. The support covers 50% of the costs of the project.

November

  • 19. November 2003

    KredEx guarantees export to Ukraine

    The Board of KredEx decided to reduce the risk classification of Ukraine from 7 to 6, which improves the possibilities of Estonian enterprises to export to Ukraine. KredEx aims to increase the issuance of export guarantees to the East (especially to Russia, Ukraine and China).

October

  • 23. October 2003

    Export guarantees in unstable markets

    Aleksei Gunter, The Baltic Times 

    KredEx, Estonian state-owned credit guarantee fund came up with a new, long-term guarantee for the local exporters. The new service will protect Estonian companies from the uncertainty common for the countries where corruption and shady deals make the market economy.
  • 08. October 2003

    The long-term export guarantee opens new opportunities for Estonian exporters

    The conference gives an overview of the current export trends and discusses more thoroughly the financing of export transactions and the insurance of credit risks in countries where the state export guarantee schemes have worked well for decades. In addition to that, KredEx introduces the new medium- and long-term export guarantee developed with the Danish ECA EKF.

June

  • 11. June 2003

    KredEx offers guarantees through AON

    Starting from today, June 11, KredEx offers its export guarantees in cooperation with AON Corporation Estonia. The clients of AON can now guarantee their export-related commercial and political risks up to 100%. This means new insurance opportunities for Estonian exporters.

May

  • 20. May 2003

    KredEx paid out 4 new housing grants

    On May 20, KredEx paid out the first 4 grants for housing reconstruction. KredEx started to offer housing grants in the beginning of the month according to the Estonian Housing Development Plan 2003-2008. The reconstruction grants are meant for housing associations that wish to renovate buildings built before 1990, which contain at least 3 apartments.

April

  • 17. April 2003

    KredEx earned a profit of 42.6 million kroons

    The supervisory board of KredEx confirmed the 2002 annual report of KredEx, according to which the fund earned a profit of 42.6 million kroons. The incomes totalled up to 53.6 million kroons, the operating expenses to 10.7 million kroons.
  • 07. April 2003

    Eksport Kredit Fonden leads the way in Estonia

    As the first financial institution in Denmark, Eksport Kredit Fonden (EKF) has initiated a strategic cooperation in Estonia. The cooperation partner is the Estonian export credit agency KredEx, which thereby in future will be able to guarantee medium- and long-term credits.
     
    The aim of the cooperation is to enable KredEx to introduce long-term guarantees on the Estonian market at the beginning of October 2003. In the coming months, EKF will train personnel, develop internal and external web-sites and assist KredEx in product development.
     
    Today Estonian companies can only insure short-term credits. Customers, however, often require medium- and long-term credits in connection with export of capital goods. In future KredEx will be able to support the growing Estonian export of capital goods.
     
    EKF has more than 80 years of experience in providing guarantees, which is one of the reasons why KredEx chose EKF as their cooperation partner. The cooperation agreement between KredEx and EKF was signed on April 7, 2003. The project is financed under the Danish Business Sector Programme for the Baltic Sea Region, National Agency for Enterprise and Housing.
     
    Maive Rute, Chief Executive Officer from KredEx says, “We decided to cooperate with EKF because of EKF’s international reputation as an efficient and professional organisation. We look forward to being able to offer long term financing of Estonian export as from October”.
     
    Anette Eberhard, Deputy Managing Director from EKF adds, “KredEx is a young and dynamic organisation. We look forward to a long cooperation and we are proud to be the first financial institution in Denmark which will have an impact on the financial development in Estonia”.
     
    EKF insures the risk of financing export to difficult markets. In 2002, EKF continued the product development which will strategically lead to a gradual shift in focus from traditional export financing to the financing of customers’ globalisation.
     
    KredEx was established in July 2000 by the Estonia Ministry of Economic Affairs and Communications and is the official Export Credit Agency of Estonia. The mission of KredEx is to support the development of enterprises, exports and housing.

March

  • 27. March 2003

    KredEx shares the risks of Estonian exporters

    KredEx has made a contract with Ühisliising, according to which it is from now on possible to insure factoring transactions with the export guarantee of KredEx. This offers better opportunities for Estonian exporters to lower their export credit risks.

February

  • 20. February 2003

    Estonia moves to revamp Soviet housing

    Aleksei Gunter, The Baltic Times
     
    The government approved a national housing development plan for the next five years and authorized KredEx to guarantee bank loans aimed at improving the Soviet housing malaise.
  • 12. February 2003

    KredEx starts to issue housing grants

    On February 11, the Government accepted the new Estonian Housing Development Plan 2003-2008, according to which KredEx will start to issue grants in order to improve the current housing situation. KredEx will start to issue grants for housing reconstruction and enlarging the rent housing fund in Estonia. The two products are brought out already during the first half of the year 2003.

January

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