State aid: EU Commission approves Danish short-term export credit scheme

(European Commission, Brussels, 4 May 2022) The European Commission has approved, under EU State aid rules, the reintroduction of a Danish short-term export credit scheme. Under the scheme, the Danish State can cover risks of single export transactions. The scheme was originally approved in April 2013, prolonged in December 2015 and expired in December 2020. In February 2022, Denmark notified its intention to reintroduce the scheme, which will run until 31 December 2025. The Commission found that the measure is necessary, as there is a lack of private insurers covering single export transactions (i.e. insurance provided on a transaction-by-transaction basis rather than on the entire export portfolio of a company)