Swedish Debt Office to set up credit guarantees for companies facing virus crisis

The Swedish government has authorized the Debt Office to establish state credit guarantees for companies that are financially impacted by the coronavirus, the Debt Office said on Friday. "The guarantee programme entails that the central government facilitates the process for viable companies of managing the pandemic," Debt Office Director General Hans Lindblad said in a statement.

"The mandate is extensive, and the Debt Office is now working very swiftly to set up the guarantee framework and thereby support the Swedish economy." The credit programme is intended to cover loans to primarily small and medium-sized companies that have experienced financial difficulties because of the new coronavirus but are otherwise robust, the Debt Office said.