The following section describes the key business-relevant anti-corruption initiatives initiated by organisations in Sweden.

EKN is a governmental agency which, in return for a premium, provides companies and banks and other financial institutions with state guarantees against losses incurred in export transactions and foreign investment. EKN's guarantees ensure companies and banks of better business security and provide protection against risks during every stage of the deal.

SEK's mission is to secure access to financial solutions for export and infrastructure.

SEK promotes the development of trade and industry and international competiveness by supplying long-term, sustainable financing based on sound commercial principles.

SEK does not accept bribery within its own ranks or in cooperation with external partners. SEK requires that all applicants sign a declaration that no bribes are involved in the transaction for which they are applying. Non- compliance with this declaration might lead to a cease of contract and repayment and indemnification for costs and expenses to SEK.

Sida, the Swedish International Development Cooperation Agency, has a zero-tolerance policy on corruption, which means that Sida does not accept corruption within its own ranks or in cooperation with external partners.

Combating corruption is a central issue for development cooperation since corruption has severe effects on the poor, stands in the way of economic and democratic development.

That is why the assignment that Sida has been given by the Swedish Government includes combating and minimising the risk of corruption in all development cooperation programmes with Swedish involvement.

The anti-corruption focus is also shown through targeted programmes and projects, such as support for anti-corruption policy implementation, capacity development of auditing, public financial management and procurement or support for judicial reforms in partner countries.

The zero-tolerance policy also means instructing the staff to inform and take appropriate action if they suspect corruption. All staff members at Sida are very familiar with the keywords: Never accept! Always act! Always inform!

Read more about Sida's work against corruption.

Swedfund, a limited liability company wholly owned by the Swedish state, is a bilateral Development Finance Institution (DFI) and risk capital company whose function is to provide long-term finance for private sector enterprises in developing and transition (non-EU) economies.

Swedfund can offer a broad spectrum of financial instruments. The focus is on owner-related capital in the form of shares and convertibles. Swedfund also offers loans with fixed interest rates, result-based loans and loan guarantees.

Swedfund's operations shall contribute to Sweden's policy objectives for global development and development cooperation through investments that foster sustainable economic development in the countries where investments are made. Swedfund's mandate thus includes also the promotion of good business ethics and good working conditions in the portfolio companies.

Swedfund is operating with standard anti-corruption clauses in its Shareholders' and Loan Agreements (covenants).

Excerpts from the Loan Agreement:

“1. Anti-Corruption
The Borrower warrants and represents that it has not in connection with the Project committed, and no person to its present knowledge has committed, any of the following acts and that it will not commit, and no person, with its consent or prior knowledge, will commit any such act, that  is to say:
(a) the promising, offering, giving, receiving or soliciting, directly or indirectly, of any payment, gifts, gratuities, or other undue advantage to influence
(i) the action of a person holding a public office or function or a director or employee of a public authority or public enterprise or a director or official of a public international organisation, to act or refrain from acting in the exercise of his or her functions; or
(ii) a person who directs or works in any capacity for any private sector entity, to act or refrain from acting in breach of his or her duties;
(b) any other act which improperly influences or aims improperly to influence the procurement process or the implementation or operation of the Project including collusion between tenderers.
For the purpose of this Clause, the knowledge of any member of the Board of Directors or the management of the Borrower or of the manager of the Project shall be deemed the knowledge of the Borrower. The Borrower undertakes to inform Swedfund, if it should become aware of any fact or information suggestive of the commission of any such act.”

The Mission of the Swedish Trade Council (STC) is to make it easier for Swedish companies to grow internationally. To realise that Mission, the STC undertakes thousands of assignments for Swedish companies in support of their international business development.

Within such customer relations, the STC acts as advisor and provider of expertise based on professionalism and awareness of business ethics and corporate social responsibility. In its counselling, the STC supports and respects internationally adopted standards on human rights, labour standards, environment and anti-corruption.

On the understanding that the individual client company assumes the ultimate responsibility for its own actions on markets, the STC will work to encourage our clients not to submit to any corruption attempts and to adopt and practise relevant principles and values.