• EUR 20m multi-beneficiary intermediated loan in support of local SMEs

Oma Savings Bank Plc (OmaSp) of Finland has signed a EUR 20m loan agreement with the European Investment Bank (EIB). The financing will be on-lent against favourable rates to local parties, with a focus on small and medium-sized enterprises (SMEs) and agricultural entrepreneurs.

Vice-President Alexander Stubb, responsible for EIB operations in Northern European countries, said: “The geographical presence of OmaSp in Finland ensures that European support can reach those beneficiaries that may previously have had a hard time securing financing for their projects. The EIB Group has worked with OmaSp under the SME initiative, so we’re very confident that this first direct financing will work smoothly to bring benefits to local SMEs and mid-caps.”

”The great co-operation with EIB will improve our competitiveness and gives us access to finance our business customers with favourable conditions. Small and medium-sized enterprises are a significant part of our growing customer base in Finland”, said Pasi Sydänlammi, CEO of OmaSp.

OmaSp has a balance of EUR 2.7bn and has become a major financial player in Finland.