Norway's state-owned export bank takes co-responsibility in offshore crisis

Norway's state-run export bank Giek loaned NOK 59 billion to the oil and offshore industry. Now, the CEO admits that the bank holds some responsibility in the crisis and that the fund is set to lose billions, writes Dagens Næringsliv.

BY KATRINE GRØNVALD RAUN, SHIPPINGWATCH

Norway's export bank Giek, which is owned by the state, was a bit too generous with providing funding for companies in the oil and offshore sector.

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