Signature(s)
Summary sheet
- Credit lines - Credit lines
Linked risk-sharing instrument under the European Guarantee Fund (EGF) to improve access to finance for mid-caps and large corporates in Finland and possibly in other EGF participating member states. Moreover, Finnvera will build a complementary portfolio, matching the size of the EGF guarantee, to improve the access to finance for small and medium-sized enterprises (SMEs). Namely, the objective is to support companies' access to liquidity and to improve their resilience to temporary demand and liquidity suppression, brought about by the COVID-19 pandemic, as well as support investment, and thereby also foster economic recovery.
Risk-sharing instrument under EGF to improve financing conditions of mid-caps and large corporates in Finland.
This linked
risk-sharing instrument under the Pan-European Guarantee Fund (EGF) is designed
to address liquidity and long-term investment needs of mid-caps and large
corporates affected by the COVID19 pandemic in Finland. The operation addresses
the underlying market failure in access to finance faced by these companies due
to information asymmetries, which has been further exacerbated by the pandemic.
The project will be implemented by a sound intermediary, Finnvera, which has
in-depth knowledge in the sector and a solid track record with implementing EIB
Group guarantee and funding products. The EIB's contribution to the project is
notable. First of all, the financing type is innovative as the delinked
risk-sharing instrument does not yet exist on the target market for mid-caps
and large corporates. Technical advice is provided to Finnvera in this regard.
EIB participation sends a strong signal to the markets that might help crowd in
private sector financial intermediaries.
Overall, the project can contribute to the development of the Finnish financial
market and positively stimulate economic recovery.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).
News & Stories
General enquiries and comments
The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.
Media enquiries
Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.
Complaints mechanism
Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.
Zero tolerance against fraud and corruption
The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.
Related publications