Eksportfinans turns to government for funding

The Norwegian government and Eksportfinans have announced a new facility that will provide long-term financing for the country’s export sector. The resort to the facility shows that the financial crisis, and access to capital, is becoming difficult even for some of the bond market’s most prestigious names – a situation likely to be exacerbated by the hundreds of billions of dollars of state-guaranteed bank debt issuance in the months to come.