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Signature(s)

Amount
€ 50,000,000
Countries
Sector(s)
Finland : € 50,000,000
Services : € 50,000,000
Signature date(s)
29/11/2021 : € 50,000,000
Link to source

Summary sheet

Release date
30 April 2021
Status
Reference
Signed | 29/11/2021
20200810
Project name
Promoter - financial intermediary
FII CO-INVESTMENT FACILITY (EGF)
SUOMEN TEOLLISUUSSIJOITUS OY
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 50 million
EUR 100 million
Location
Sector(s)
Description
Objectives

Quasi-equity co-investment platform between the EIB and FII (Finnish Industry Investment), a national promotional finance institution (NPI) in Finland, to support recovery of innovative small and medium-sized enterprises (SMEs) after the COVID-19 crisis.

The operation concerns a potential co-investment platform with Suomen Teollisuussijoitus (TESI). TESI is also referred to as the Finnish Industry Investment (FII) and a national promotional finance institution (NPI) in Finland. The EIB would commit capital from the European Guarantee Fund (EGF) to invest in quasi-equity transactions originated, structured and managed by FII. The target companies would be Finnish SMEs affected by COVID-19.

Additionality and Impact

The operation concerns a co-investment facility between FII and the EIB that will deploy quasi-equity to innovative Finnish SMEs that have been affected by the Covid-19 pandemic. It targets capital-intensive technology sectors such as ICT, healthcare and industrial/deep tech. All of them are key strategic areas for the development of the EU's economy. With extensive experience in providing funding to such SMEs in Finland, FII is an ideal partner for the EIB to swiftly deploy capital in that market to alleviate the challenges resulting from the pandemic. From FII's perspective, the EIB's capital commitment significantly increases its resources to support the targeted innovative SMEs.

Environmental aspects
Procurement

The platform's operational guidelines will provide for due diligence of environmental and social aspects for all projects, according to guidelines acceptable to the EIB.

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Link to source

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).

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