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November

  • 03. November 2004

    KredEx supports local municipalities to enlarge the local housing fund

    The Ministry of Economic Affairs and Transportation confirmed the names of municipalities that received support for the enlargement of local rent housing fund.
     
    14 municipalities received the support in the total amount of 12.1 million kroons, 10.1 million of which to purchase or build apartments for the tenants of restituted buildings and 1.9 million for new labour in the country regions of Estonia.

October

  • 19. October 2004

    KredEx stops the reception of export guarantee applications

    This week KredEx stops reception of the export guarantee applications due to filling the national guarantee portfolio in the amount of 300 million kroons.

    Accepted and processed will be only extension applications of export guarantees already given out.

    KredEx reopens reception of new export guarantee applications after the national guarantee limit is increased.
  • 14. October 2004

    KredEx stops accepting applications of housing grants for reconstruction today

    Due to running out of financial sources received from state budget for the year 2004 faster than expected, KredEx stops accepting applications of housing grant for reconstruction today.
    KredEx received 16.4 million kroons from the state budget to support renovation of Estonian apartment buildings.
  • 11. October 2004

    KredEx stops accepting applications of housing grants for reconstruction in November

    Due to running out of financial sources received from state budget for the year 2004, KredEx stops accepting applications of housing grant for reconstruction in the end of the October.

    KredEx received 16.4 million kroons from the state budget to support renovation of Estonian apartment buildings. By October 11 approximately 2.1 million kroons have been remained for that purpose.
  • 07. October 2004

    KredEx continues issuing housing loan guarantees

    KredEx continues issuing housing loan guarantees for young families, young specialists and tenants of restituted buildings from the 1st of November. KredEx continues issuing housing loan guarantees in a limited content until the Parliament approves new limit of housing loan guarantees. Last week the Government gave a consent on principles  to increase the limit.
     
    KredEx stopped issuing housing loan guarantees in the end of September due to reaching the limit of housing loan guarantees in the amount of 700 million kroons counter-guaranteed by the state.

September

  • 23. September 2004

    KredEx and Parex Pank signed a co-operation agreement

    KredEx and Parex Pank signed a co-operation agreement that enables enterprises, that take a loan from Parex Pank, also apply for KredEx`s loan guarantees. KredEx offers guarantees for enterprises business loan, small business loan and leasing.
  • 23. September 2004

    KredEx and Norwegian Export Guarantee Fund insure Estonian- Norwegian economic co-operation

    On the September 23 a co-operation agreement between KredEx and Norwegian Export Guarantee Fund GIEK came into force.
     
    The agreement allows KredEx and GIEK share such risks of export operations where a Norwegian company have used Estonian subsupplying in the production process or vice versa.

    By today KredEx have signed similar reinsurance agreements with all Export Guarantee Funds in the northern lands: Finnvera in Finland, EKF in Denmark and EKN in Sweden.

August

  • 30. August 2004

    Maive Rute continues as the CEO of KredEx

    The board of KredEx decided to choose Maive Rute from the last three candidates for the position of Chief Executive Officer of the Estonian Credit and Export Guarantee Fund KredEx. Maive Rute has been the CEO of KredEx since its foundation in year 2000.
     
    The public contest for the position of KredEx´s CEO was announced due to the arrival of the term of the contract.
  • 16. August 2004

    KredEx stops issuing housing loan guarantees temporarily

    KredEx has reached the limit of issuing housing loan guarantees counter-guaranteed by the state. The limit is 700 million kroons - by the end of July the portfolio of housing loan guarantees was already 650 million kroons. Unless the government changes the law and increases the limit, KredEx is forced to finish the issuance of loan guarantees to young families, young specialists and tenants of restituted buildings by September 30. KredEx has the necessary funds to issue loan guarantees up to 1.6 billion kroons if the limit is changed.
  • 04. August 2004

    24 municipalities applied for housing supprt

    By July 30 KredEx received 26 support applications for its housing support from 24 municipalities in order to enlarge the local rent housing fund. Total amount of the applications was 33.7 million kroons, 30 millions of which to purchase or build apartments for the tenants of restituted buildings and 3.7 millions for new labour in the country regions of Estonia. This year KredEx received 12.1 million kroons to improve the living conditions of municipalities.

July

  • 21. July 2004

    KredEx cooperates with Ingosstrakh in Russia

    KredEx signed a contract with the Russian export credit agency Ingosstrakh, which enables KredEx to share the risks of export transactions, especially those of Estonian companies exporting to Russia.

June

  • 16. June 2004

    KredEx signs a reinsurance agreement with Finnvera

    Starting from June 16, 2004, KredEx and the Finnish export credit agency Finnvera co-operate according to a reinsurance agreement, which enables KredEx and Finnvera to share the risks of export transactions when the Finnish exporter produces goods through subcontracting in Estonia and vice versa.
  • 14. June 2004

    KredEx issued the first guarantee to an apartment ownership

    KredEx issued the first guarantee to an apartment ownership, which enabled the owners to take a loan in the amount of 200 000 kroons to reconstruct the roof.
  • 10. June 2004

    KredEx developed 2 new export guarantee schemes with the support of Denmark

    KredEx and the Danish export credit agency EKF finished their co-operation programme, the aim of which was to launch the medium- and long-term export guarantees in Estonia and develop the investment guarantees. The products will increase the competitive strength of the Estonian exporters. KredEx launched the long-term guarantees in October 2004 and will start issuing investment guarantees starting from 2005.
  • 09. June 2004

    Guarantees for apartment buildings now also from Sampo Bank

    Starting from today apartment associations and ownerships can apply for the apartment building guarantee of KredEx also from Sampo Bank.
  • 09. June 2004

    Export insurance towards Belarus simplified

    Starting from today KredEx will drop the demand for the credit letter or bank guarantee in case of export transactions guaranteed to Belarus.
  • 03. June 2004

    The list of renovation activities supported grew

    Strating from today the list of renovation activities supported by KredEx grew. So far KredEx only supported the activities that are described as "reconstruction" by law, now KredEx also supports the "renovation".

April

  • 01. April 2004

    New target groups of housing loan guarantees

    On April 1, the Government of Estonia decided to extend the target groups of the housing loan guarantees issued by KredEx. KredEx will start to issue loan guarantees to apartment ownership in addition to the young families and specialists, tenants of restituted buildings and housing associations.

March

  • 15. March 2004

    Apartment buildings get financial support

    Starting from March 22, 2004, KredEx begins to accept applications for the financial support of apartment buildings. This year KredEx received 20 million kroons in order to support the renovation of Estonian apartment buildings. Last year the support issued by KredEx amounted to 14.6 million kroons.

February

  • 26. February 2004

    KredEx signed an agreement with EKN in Sweden

    On February 26, KredEx signed a reciprocal reinsurance agreement with EKN (Exportkreditnämden). The agreement enables KredEx and EKN to guarantee risks of transactions when a Swedish exporter has used a subcontract with an Estonian company or vice versa. This should improve the economic cooperation between Estonia and Sweden.

January

  • 08. January 2004

    Lending boom stresses central bankers

    Aleksei Gunter, The Baltic Times

    According to the central bank, helping people receive mortgage loans might cause long-term social problems should an economic recession occur.

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