The European Investment Bank has committed to supporting Finnish company TactoTek, which develops “in-mold structural electronics” (IMSE®) production methods and technologies. The company will use the financing to increase its investments in innovation and research, as well as to sustain its growth, which was hampered by the difficulties brought about by the COVID-19 pandemic. The financing was made available under the European Guarantee Fund (EGF), a pan-European programme to help SMEs that are viable in the long-term but are struggling in the current crisis, to grow their way out of the ongoing difficulties.
The European Investment Bank has signed a guarantee agreement with OP Bank in Finland to allow OP to bring new financing worth 300 million euros to mid-size Finnish companies. The aim is to support companies in making new investments and recovering from the Covid-19 pandemic. Financing guaranteed by the EIB and intermediated by OP is intended to finance profitable investments and the working capital of companies. The EIB’s guarantee will cover €195 million (65%) of the 300-million-euro financing targeted at mid-size companies. The guarantee forms part of the European Guarantee Fund's (EGF) guarantee programme, and the agreement will be valid until the end of 2021.
Finnvera is joining the Pan-European Guarantee Fund (EGF) programme of the European Investment Bank (EIB) Group. On 1 April 2021, Finnvera and the EIB signed an agreement on a guarantee programme which will enable Finnvera to grant a total of EUR 650 million of working capital and investment loans, mainly for the financing needs of large enterprises. This funding will have a 75% EIB guarantee. The guarantee programme will be in force until the end of 2021.