KredEx in major procedural shake-up ahead of new €180 million loan package

State credit agency KredEx is to be issuing further loans and loan guarantees after a hiatus early on this year. €180 million will be available, with the emphasis to be put on loan guarantees rather than straight-out loans. The government will not take decisions on loans – the largest of which were in the tens of millions during the initial coronavirus wave – in the wake of a major KredEx-related scandal in January which brought down the Center/EKRE/Isamaa coalition.
KredEx is also getting a new supervisory board.
Processing of KredEx loan applications was suspended at the end of last year, but the government gave the go ahead to restart support from the body, at the center of a recent scandal which prompted the resignation of Jüri Ratas (Center) as prime minister, to the tune of €180 million.

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