EIB Global Loans are credit lines available to financial intermediaries. The intermediaries select the projects based on agreed criteria. Global Loans combine EIB's capacity to borrow funds at favourable terms in international markets and the national intermediary's close relationship and knowledge of the local market.

With the Global Loan Finnvera will finance investment of SMEs in industry and services sectors, most of which will be situated in Assisted Areas of Finland. Finnvera will provide long-term loans, at favourable conditions, that contribute to reducing investment costs and better match the expected economic life of the investments. The investments will increase productivity and competitiveness of SMEs and, therefore, contribute to regional development and economic growth and employment throughout Finland.

Finnvera is one of the principal financers of SMEs in Finland. It already has received from the EIB four other Global Loans, which it has fully utilised. Some 90% of Finnvera's loans went to SME's in Objective 1 + 2 areas.

When signing the loan contract, EIB Vice President Sauli Niinistö said: The EIB's remit is to support the policy objectives of the European Union by making long-term finance available for sound investment, and contributing to a regionally balanced development is its top lending priority. Finnvera's main task is to promote SMEs and regional development in Finland. Therefore, EIB and Finnvera are natural partners that can work successfully by combining their respective strengths. EIB as the largest supranational borrower with an AAA credit rating is able to borrow funds in international markets at keen conditions. Finnvera as a not-for-profit institution can pass on EIB's funding cost to its broad client base.

Mr Markku Mäkinen, Finnvera Managing Director who signed on behalf of Finnvera said: The continuation of the cooperation with EIB is very much welcomed by us since it provides competitive diversification in our funding. The EIB support also helps to create sustainable economic growth, not least to SMEs in the regional development areas of Finland.

The European Investment Bank (EIB), the European Union's long-term lending institution, provides long-term loans for investments that contribute to the integration and regionally balanced development of its Member States.

In Finland, the EIB has lent EUR 4.7 billion for industry, notably R&D intensive corporates, industrial projects in regional development areas and science parks, as well as investments within ICT, infrastructure and energy sectors.In addition to large projects, the EIB has financed small and medium-sized public and private investments through Global Loans to financial intermediaries such as Finnvera.