Credit guarantees for green investments

To promote green industrial investments that can help Sweden reach its environmental and climate policy goals, the Government has given the Swedish National Debt Office a mandate to provide state credit guarantees.

On 3 June 2021, the Government resolved to give to the Debt Office a mandate to issue state credit guarantees for new loans raised by companies with credit institutions for financing large industrial investments in Sweden that contribute to reaching the goals of the environmental objectives system and climate policy framework.

To be eligible for a guarantee, a loan must amount to at least SEK 500 million.

The assignment will be carried out in accordance with regulation (2021:524) on state credit guarantees for green investments, which entered into force on 22 June 2021.

During 2021, the scope of the guarantee scheme was SEK 10 billion. On 8 September 2021, the Government proposed to increase the scope of the scheme by raising the limit for 2022 from the previous SEK 15 billion to SEK 50 billion. After that, the scope of the guarantee scheme is estimated to be SEK 65 billion for 2023 and SEK 80 billion for 2024. The proposal also entails that the scheme is extended by one year.

The Government's proposal for raising the limit of the guarantee scheme was included in the Budget Bill presented to the Riksdag on 20 September 2021.

Application for a credit guarantee for green investments

All applicants must use the Debt Office’s application form. A number of appendices are to be attached with the application, as described in the application form.

Under Related Content below, you will find the Application Form as well as Appendix 1 (Description of the Investment) and Appendix 2 (Environmental Assessment). 

Environmental evaluation of investment

To qualify for the guarantee scheme, investments must meet certain environmental requirements. The regulation on state credit guarantees for green investments refers to the Swedish environmental objectives system. Conducting a transparent and predictable evaluation process for determining whether an investment significantly contributes to the environmental quality objectives requires a well-defined benchmark. In this case the Debt Office intends, as a starting point, to use the taxonomy developed by the European Commission, as an essential tool for the evaluation.  

Using this taxonomy, the Debt Office, together with the Swedish Environmental Protection Agency, has set out assessment criteria for the evaluation.

The Swedish Environmental Protection Agency's guidelines for the green guarantee scheme are found under Related Content below (the information is only available in Swedish). 

Information about granted credit guarantees

The Debt Office has received 11 expressions of interest. The procedure for expressions of interest was a way to gauge how much interest there was initially in the green credit guarantees. Altogether, the expressions of interest entail a total loan amount of more than SEK 80 billion, which could correspond to a guarantee amount of up to SEK 64 billion.

At this point, a handful of formal applications for green credit guarantees have been received. The green credit guarantee scheme involves large and complex projects, and accordingly it takes time for the companies and credit institutions to complete the applications and finalise the supplementary documents. The Debt Office expects to receive more applications during the period in which they can be submitted, which is up to and including 2024.

The application processing is ongoing and the decision to grant the first credit guarantee was made in April 2022.

The Debt Office issued a credit guarantee to Swedish Export Credit Corporation (SEK) for a 3 billion kronor loan for converting Preem’s refinery in Lysekil to produce biodiesel. The Debt Office’s guarantee is conditional on the requisite environmental permits being obtained. Read more in the press release below. 


For questions about the guarantee scheme, contact the Debt Office at:

Press contact:, +46 (0)8 613 47 01