EC-EIB SME INITIATIVE FINLAND

Promoter – Financial Intermediary

Suomen Tasavalta

Location

• Finland

Description

Implementation of the SME Initiative (SMEi) in Finland, a joint initiative of the EIB Group and the European Commission (EC) aiming to support European small and medium-sized enterprises (SMEs) through risk-sharing financial instruments

Objectives

Final beneficiaries will be SMEs. The main objective will be to facilitate the flow of credit to the final beneficiaries.

Sector(s)

• Credit lines - Credit lines

Proposed EIB finance (Approximate amount)

EUR 272 million

Total cost (Approximate amount)

EUR 557 million

Environmental aspects

In accordance with the Bank's policy to ensure that sub-loans comply with the EU acquis, in particular in the fields of environment and public procurement, the Bank will require the intermediary institutions to take all the mecessary measures to ensure that the environmental and procurement procedures carried out by the final beneficiaries for the sub-projects that the Bank finances comply with the relevant EU legislation and the applicable national legislation, provided that it is in conformity with EU rules.

Procurement

In accordance with the Bank's policy to ensure that sub-loans comply with the EU acquis, in particular in the fields of environment and public procurement, the Bank will require the intermediary institutions to take all the necessary measures to ensure that the environmental and procurement procedures carried out by the final beneficiaries for the sub-projects that the Bank finances comply with the relevant EU legislation and the applicable national legislation, provided that it is in conformity with EU rules.

Status

Signed - 14/09/2016