A financial contribution provided to Finnish SMEs by the EU

Finnish SMEs can be pleased: an additional contribution of 190 million euros has just been approved under the Junker Plan to support their growth and competitiveness.

The European Investment Fund (EIF) and Finland’s state-owned specialised financing company Finnvera have signed a deal this morning which will provide growth-seeking SMEs in Finland with nearly €190 million in fresh financing. The EIF will counter-guarantee Finnvera, which will guarantee lending by local banks.

The agreement is signed under the COSME programme and benefits from the guarantee of the Juncker Plan’s European Fund for Strategic Investments. As of July 2019, the Juncker Plan has mobilised €424 billion of additional investment, including €8.7 billion in Finland. The Plan is currently supporting 967,000 small and medium entreprises across Europe.