Action plan against corruption

The issues of corporate social responsibility (CSR) continues to develop and we can truly talk about a moving target where SEK constantly has to follow the international and national development, and then match that against its own reality and activities.

The convention that the OECD adopted in 1997 against bribery of Foreign Public Officials, and that SEK already follows, has now been joined by an action plan that the OECD has adopted against corruption for state supported credits. This action plan shall be implemented before the end of the year. Even if the new action plan is corresponds with the work that SEK already carries out, we will now increase our control against corruption even further when it comes to state supported deals.

The agreement means that exporters shall confirm that there is no corruption. Furthermore, exportes have to inform if they are subjet for indictments or have been convicted for corruoption. The exporters shall, if asked, also leave information about any agents they use or any provision they pay their agents. SEK shall forward information to prosecutors and stop new credits if credible evidence for corruption is presented, and also stop payments and demand refunds if corruption sentences are issued.

EKN will in their guarantee approval process follow the same new rules.