Brussels, 22 March 2023
The European Investment Fund (EIF) and Finnish financial institution OP Financial Group have signed a guarantee agreement, backed by the InvestEU programme, to promote the green transition and innovation investment, bringing approximately €200 million in additional financing to the Finnish market.
The guarantee will ensure access to finance to small and medium-sized businesses and housing associations. It will help them invest in sustainable solutions and accelerate product and service development and digitalisation. This guarantee will allow financing to be issued at beneficial terms and support loans of up to €7.5 million.
Paolo Gentiloni, Commissioner for the Economy, said:
“InvestEU is playing an important role in driving the green transition forward. This agreement is supporting businesses and housing companies in accelerating the development of sustainable solutions and the digitalisation of products and services in Finland. I am delighted that this agreement will enable small and medium-sized companies to access the finance they need to innovate, expand and create jobs.”
The InvestEU programme provides the EU with long-term funding by leveraging private and public funds in support of EU policy priorities. As part of the programme, the InvestEU Fund is implemented through financial partners who will invest in projects using the EU budget guarantee and thus mobilising at least €372 billion in additional investment.
A press release is available online.
Source – EU Commission