Release date: 16 November 2023
Promoter – Financial Intermediary
FINNVERA OYJLocation
Description
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.
Objectives
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.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 200 million
Total cost (Approximate amount)
EUR 560 million
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Status
Approved - 15/12/2023
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).