Eksport Kredit Fonden

EIFO sources through a dual channel: Danish exporters and contractors bring in-project financing requests when bidding on international tenders, and the fund's own origination teams identify large-scale infrastructure programs in target markets. Because EIFO operates under OECD Arrangement terms, its guarantee pricing and tenor must meet multilateral standards, which often positions it as a senior lender in syndicated project-finance structures alongside development finance institutions like the IFC or EBRD.

Eksport Kredit Fonden was absorbed into EIFO in December 2023 when the Danish government merged EKF, Vaekstfonden (the Danish Growth Fund), and the Danish Green Investment Fund into a single state-owned financing platform. EIFO now carries all of EKF's legacy guarantee and insurance obligations alongside the equity and loan portfolios of the other two entities. The merger created Denmark's largest state-backed investor, with a combined toolkit spanning export credit insurance, direct lending, and minority equity stakes.

EIFO's green-guarantee envelope covers offshore and onshore wind, hydrogen production and distribution, carbon capture and storage, water infrastructure, and energy-efficiency retrofits for heavy industry. In September 2024 the fund formally extended its mandate to include the hydrogen and carbon-capture supply chains that feed Denmark's national clean-hydrogen corridor strategy. The guarantee terms follow OECD sector understandings for renewable-energy and climate-mitigation projects.

EIFO holds both a guarantee book inherited from EKF and an equity portfolio inherited from Vaekstfonden and the Danish Green Investment Fund. The combined entity can issue direct loans, buyer credits, project-finance guarantees, and minority equity co-investments — often in the same transaction. This gives EIFO a rare ability among export credit agencies to align its underwriting incentives with asset-level performance through co-investment structures.

EIFO is a wholly owned public body under the Danish Ministry of Industry, Business and Financial Affairs. Its board is appointed by the minister, and its mandate is defined by the Danish Parliament's legislation establishing the merged entity. Day-to-day investment decisions rest with CEO Peder Lundquist and his investment committee, subject to OECD export-credit rules and the Equator Principles risk-management framework. The fund's green-finance commitments are publicly tracked against Denmark's Paris Agreement obligations through its membership in the Export Finance for Future coalition.

EIFO's active portfolio concentrates on emerging and middle-income markets where Danish exporters face political-risk barriers that commercial banks will not underwrite alone. Latin America, Sub-Saharan Africa, and Southeast Asia represent the largest exposures, with notable concentrations in Taiwanese offshore wind, Vietnamese water infrastructure, and Brazilian industrial-machinery projects. The fund has no disclosed exposure to Russia or Belarus and operates under EU sanctions compliance.

No. As a Danish public body, EIFO is subject to Denmark's Public Administration Act rather than private-fund disclosure rules. It publishes annual reports and participates in OECD trade-finance data-sharing, but individual deal terms and portfolio-level equity valuations are not publicly disclosed. Institutional counterparties conducting due diligence typically obtain credit-risk information through the Berne Union's member-exchange protocols rather than public filings.