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        FINNVERA LRS ENHANCED SUPPORT

        Signature(s)

        Amount
        € 200,000,000
        Countries
        Sector(s)
        Finland : € 200,000,000
        Credit lines : € 200,000,000
        Signature date(s)
        30/05/2024 : € 200,000,000

        Summary sheet

        Release date
        16 November 2023
        Status
        Reference
        Signed | 30/05/2024
        20220935
        Project name
        Promoter - financial intermediary
        FINNVERA LRS ENHANCED SUPPORT
        FINNVERA OYJ
        Proposed EIB finance (Approximate amount)
        Total cost (Approximate amount)
        EUR 200 million
        EUR 560 million
        Location
        Sector(s)
        Description
        Objectives

        The operation consists of an unfunded risk participation scheme under a full delegation approach by which the EIB will cover up to 50% of the losses with respect to each defaulted loan of a portfolio of loans to mid-caps.

        The aim is to support mid-caps operating in all EIB's eligible sectors in Finland, and potentially other EU Member States. Access to finance remains constrained for the time being as a result of the economic uncertainty exacerbated by the war in Ukraine, supply chain bottlenecks, energy security, and lasting effects of the pandemic.

        Environmental aspects
        Procurement

        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.

        Milestone
        Under appraisal
        Approved
        Signed
        15 December 2023
        30 May 2024
        Related projects
        Parent project
        LRS - EU PL RISK SHARING INSTRUMENT

        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).

        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 Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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