Development and Legitimacy of Export Credit Agencies: A case study of the Swedish Export Credit Guarantee Board’s Exportkreditnämnden policy objectives and their compatibility with the Swedish policies for global development

Sammanfattning: The aim of this study is to analyze in which principal ways the Swedish Export Credit Guarantee Board’s Exportkreditnämnden (EKN) policy objectives are compatible and incompatible with Sweden’s Policy for Global Development (PGU). The study is conducted as a qualitative case study with secondary sources as empirical foundation. The literature on EKN’s operations have been examined and compared to the 17 goals of Agenda 2030, which are included in PGU. The findings of the study are thereafter analyzed with legitimacy theory as a theoretical lens. The study concludes that EKN’s policy objectives are compatible with PGU through the facilitating of sustainable investments in sectors with important social benefits such as ICT, transport and construction, power, and food production. Further, EKN also follows international environmental and social standards. However, there are aspects in EKN’s policy objectives, which are incompatible with PGU. For instance, the large support for arms trade, and the guaranteeing of deals and projects in sectors that do not have social or environmental benefits and where there are risks for potential negative environmental and social impacts. Legitimacy theory is used as a tool to analyze how these incompatibilities are legitimized by EKN.