Export Finance Norway (2025)
| Signing Date | 27 Jun 2014 |
| Region of Headquarters: | Europe |
| Current EPFI Reporting Year/Period: | 2025 |
| Institutional Reporting: | No Report Available |
Please read the important notes and disclaimer for further information on ‘EPFI Reporting’, compliance and publication on the EP website.
Further information on this EPFI may be obtained through the Institutional Reporting hyperlink.
Project Finance Advisory Services
Total number mandated in the reporting period: 0
Project Finance Transactions
Total number that reached Financial Close in the reporting period: 0
Project-related Refinance & Project-related Acquisition For Project Finance
Total number that reached Financial Close in the reporting period: 0
Project-Related Corporate Loans
Total number that reached Financial Close in the reporting period: 4
| Equator Principles Category | A1 | B2 | C3 |
|---|---|---|---|
| Sector | |||
| Mining | |||
| Infrastructure | 1 | ||
| Oil & Gas | |||
| Power | 1 | ||
| Others | 2 | ||
| Region | |||
| Americas | 1 | ||
| Europe, Middle East & Africa | 1 | 1 | |
| Asia Pacific | 1 | ||
| Country Designation | |||
| Designated Country 4 | 1 | ||
| Non Designated Country | 1 | 1 | 1 |
| Both | |||
| Independent Review | |||
| Yes | 1 | ||
| No | 2 | 1 | |
| Totals | 1 | 2 | 1 |
Category A – Projects with potential significant adverse environmental and social risks and/or impacts that are diverse, irreversible or unprecedented.
Category B – Projects with potential limited adverse environmental and social risks and/or impacts that are few in number, generally site-specific, largely reversible and readily addressed through mitigation measures.
Category C – Projects with minimal or no adverse environmental and social risks and/or impacts.
Designated Countries are those countries deemed to have robust environmental and social governance, legislation systems and institutional capacity designed to protect their people and the natural environment.
Project-related Refinance & Project-related Acquisition For Project-related Corporate Loans
Total number that reached Financial Close in the reporting period: 0
Project Name Reporting For Project-related Corporate Loans (And Project-related Refinance & Project-related Acquisition For Project-related Corporate Loans)
| No. | Project Name | Sector | Project Location(s) | Year of Financial Close |
|---|---|---|---|---|
| 1 | ALBRAS Alumínio Brasileiro S.A | Others | Brazil | 2025 |
| 2 | Greater Changua 2a and 2b | Power | Taiwan, China | 2025 |
| 3 | Andfjord Salmon Group AS | Others | Norway | 2025 |
| 4 | Camwaters Japoma Water treatment facility | Infrastructure | Cameroon | 2025 |
Implementation of the Equator Principles
Equator Principles Implementation Reporting- Eksfin 2025
The mandate of the Equator Principles Reviewers – responsibilities and staffing
Eksfin remains fully committed to implementing the Equator Principles (EP) as an integral part of its environmental and social (E&S) risk management approach. Responsibility for EP implementation rests with a dedicated and operationally independent E&S advisory team. The team identifies transactions that fall within the scope of the EP, categorizes projects, reviews E&S documentation, and provides E&S assessments for relevant projects. Eksfin applies a risk-based approach, under which all long-term transactions are categorized. Category A and high-risk Category B transactions are subject to enhanced due diligence, including independent reviews. As an export credit agency, Eksfin does not distinguish between designated and non-designated countries.
For Category A and high-risk Category B projects, the E&S advisor prepares an E&S review based on the ESIA and an independent third-party review. As part of the review process, Eksfin engages with the client, independent E&S experts and, where relevant, counterparts from other financial institutions to discuss E&S impacts, mitigation measures and management arrangements. Site visits are conducted when considered necessary. Eksfin currently has four E&S advisors with extensive hands-on experience in E&S impact assessments, field surveys and due diligence. The team is organized together with international relations and strategy, and works closely with Eksfin’s commercial teams.
Eksfin is committed to transparency and continues to develop its external sustainability disclosures. The EP process is embedded in Eksfin’s credit and risk governance. The client executive conducts the initial risk classification, the E&S advisor performs due diligence, and final approval is granted by Eksfin’s Credit Committee or Board. The legal and commercial departments work closely with the E&S team to integrate conditions precedent, covenants and monitoring clauses into loan and guarantee agreements.
Eksfin also places strong emphasis on internal capacity building. For the second consecutive year, the E&S team organized an internal “Sustainability Month”, featuring presentations by external experts and high participation across departments. The programme focused on strengthening staff competence on nature-related risks, climate risk and EU regulatory frameworks, including the Taxonomy and CSRD.
Eksfin has developed internal guidance for complex sectors, including aquaculture, shipping, renewable energy and large-scale industrial manufacturing. These sectors are subject to additional scrutiny due to their environmental footprints and regulatory complexity.
The respective roles of the Equator Principles Reviewers, business lines and senior management in the transaction review process
The EP transaction review process is integrated into Eksfin’s credit and risk governance and involves clear roles across the business, E&S, analysis, legal and decision-making functions. The client executive conducts the initial project categorization to determine the level of E&S due diligence required. The E&S advisor then leads the EP review process in accordance with Eksfin’s procedures, performs the due diligence and validates the project categorization.
The E&S advisor, supported by the E&S advisory team, provides an assessment of whether the transaction should proceed, including any relevant E&S conditions. The recommendation is included in the decision document presented to Eksfin’s Credit Committee by the client executive. The Analysis Department assesses credit risks with an E&S origin as part of the company credit rating, in coordination with the E&S advisor. Final approval is granted by Eksfin’s Credit Committee or, where relevant, by Eksfin’s Board.
Together with external legal counsel the Legal Department drafts the loan and guarantee documentation, including conditions precedent, covenants, representations and warranties, and monitoring requirements. This work is carried out in close cooperation with the E&S advisor to ensure appropriate follow-up of E&S incidents, claims and reporting obligations throughout the transaction period.
The incorporation of the Equator Principles in Eksfin’s credit and risk management policies and procedures
The Equator Principles are incorporated into Eksfin’s credit and risk management framework through relevant internal policies and procedures. Eksfin’s Policy for Credit Risk guides credit risk management and requires transactions to meet sustainability criteria aligned with the IFC Performance Standards or equivalent standards. Eksfin’s Sustainability Policy explicitly refers to the Equator Principles and confirms Eksfin’s commitment to their implementation.
Eksfin’s Policy for Risk Management and Internal Control further states that risk management shall be integrated into Eksfin’s strategy and business processes, including the management of climate and sustainability risks. In addition, Eksfin’s Guidance on Due Diligence describes how due diligence is carried out in accordance with the Equator Principles. Together, these policies and procedures support a consistent and risk-based approach to E&S due diligence across relevant transactions.