Export and Development Financing (ExDev)
ExDev is intended for projects with clear development impacts where commercial financing alone is insufficient to enable implementation. Through Export and Development Financing (ExDev), SEK can help facilitate Swedish export transactions that contribute to long-term social and economic development in low and lower-middle income countries.
The solution is designed for projects that support sustainable economic and social development and where financing is a key factor in making the project possible.
What is export and development financing (ExDev)?
Export and Development Financing (ExDev) is a financing solution for projects that combine Swedish exports with measurable development impacts.
The financing is intended for socially beneficial investments that cannot be carried out on purely commercial terms. Through ExDev, projects that might otherwise not move forward can gain access to financing and create value for both local communities and the Swedish companies providing the solutions.
When is ExDev the right solution?
ExDev may be relevant when:
- a Swedish company exports goods or services to a development project,
- the investment contributes to sustainable economic and social development,
- the project delivers clear societal benefits,
- traditional commercial financing is insufficient to enable implementation, and
- financing is a key factor in making the transaction possible.
What types of projects can be eligible?
ExDev may be relevant for projects that contribute to long-term development and strengthen essential societal functions.
Examples include:
- Energy and electrification
- Water supply and sanitation
- Public transport and transport infrastructure
- Digital infrastructure
- Healthcare
- Education
- Other essential infrastructure
A common feature of all eligible projects is that they generate clear development benefits and are not considered fully financeable on commercial terms alone.
Focus on development impact and additionality
A fundamental principle of ExDev is to help enable projects that might otherwise not be realised.
Each project is therefore assessed based on both its development impact and its financing needs. ExDev is not intended for transactions that can be carried out on fully commercial terms, but for investments where access to financing plays a decisive role in making the project possible.
Where can ExDev be used?
ExDev is not available in all markets.
Financing may only be considered in countries that meet applicable international criteria for development financing and where the transaction can be structured in accordance with relevant regulations and frameworks. Eligibility is assessed on a case-by-case basis.
If you are unsure whether a country or project may qualify, we are happy to make an initial assessment.
How we work
Each project is evaluated individually based on:
- Export content
- Financing needs
- Development impact
- Sustainability considerations
- Geographic conditions
Working closely with relevant stakeholders, we structure financing solutions that support both the transaction and the project’s long-term objectives.
Do you have a project that delivers societal benefits but lacks access to commercial financing?
Contact us to discuss whether ExDev could be a suitable financing solution for your project.
Do you want to know more?
Pontus Davidsson, Head of Origination & Strategic Partnerships
Q&A – Questions and answers about export and development financing
Who administers export and development financing?
EKN has been assigned by the Swedish government to administer export and development financing. EKN issues the guarantees and disburses the aid-funded portion. Svensk Exportkredit (SEK) provides the fixed-rate export credit, while private financial institutions arrange and administer the loan. Sida conducts the development assessment.
The work is carried out in close cooperation with other Team Sweden partners, whose experience and networks are essential to ensuring that the instrument supports both development and Swedish exports.
Which projects can be included?
Projects in areas such as public transport, energy, waste management, rural telecom rollout, and water supply — that cannot be financed on purely commercial terms — may fall within the scope of the instrument.
What are the conditions for using the instrument?
The project must take place in a country where EKN can provide guarantees, primarily low- and middle-income countries. It should promote social and economic development and comply with OECD rules for tied aid, with at least a 35% subsidy. A commercial bank must arrange the export credit, which is then transferred to Svensk Exportkredit (SEK), offering a fixed interest rate, known as CIRR.
Export and development financing can only be used for transactions that would not take place without the aid component. Therefore, it is important to contact EKN and SEK early – before the deal is finalized or financing terms are set. Exporters and banks are subject to EKN’s and SEK’s standard terms and conditions, with necessary adjustments to comply with the regulation on export and development financing, and projects must also meet aid and sustainability requirements.
How do I know if my transaction can qualify as aid?
EKN, together with Sida, assesses whether the project complies with OECD rules for tied aid and the OECD DAC guidelines for the use of aid funds, while also ensuring that EU state aid requirements are met.
What can the aid funds be used for?
They can only be used to repay the export credit – instalments, interest, and credit-related costs – and the transaction must be arranged by a private financial institution, such as a bank. As a first priority, the aid component is intended to cover the interest portion.
When can applications be submitted?
The regulation entered into force on August 1, 2025. EKN is currently developing the procedures for the application process. Please visit EKN’s website for the latest updates.
What terms apply?
The conditions for the aid funds are set out in an agreement between the aid recipient and EKN. The agreement specifies how the funds may be used, the repayment terms for the export credit, and the allocation of responsibilities between the parties.
How does this instrument differ from Sida's guarantees?
Export and development financing always requires a Swedish export component, whereas Sida’s guarantees are not tied to Swedish exports.
How is transparency ensured?
All operations comply with OECD DAC guidelines as well as Swedish legislation on public access to information and secrecy. Reporting and openness are key requirements.
