Bloomberg said Sweden’s state-backed export bank is targeting emerging-market currencies including the Mexican peso, the Brazilian real and China’s renminbi to help companies in the largest Nordic economy build markets outside Europe.

“The best-functioning market is still the dollar, and then the euro is also good and functioning, but we are trying very much to borrow in other currencies that are harder to get, to offer those to export companies,” Peter Yngwe, chief executive officer of SEK, said to Bloomberg. “They can then, through us, get hold of these currencies, and at a relatively good cost.”

Trade Minister Ewa Björling has promoted a shift away from European markets to make Sweden less vulnerable to economic shocks. And Finance Minister Anders Borg has urged Swedish manufacturers to target Africa.