The European Investment Fund (EIF), which is part of the European Investment Bank group, in collaboration with the Finnish export credit agency Finnvera, has announced the launch of a €30 million pilot project. The project aims to expand Finnish exports to Ukraine and enhance the opportunities for Finnish companies in the Ukrainian market.
This is reported by Business • Media
Support for Finnish Small and Medium Enterprises
As part of this initiative, Finnvera will be able to provide export loans to Finnish companies engaged in trade with Ukraine, backed by guarantees from the European Investment Fund. The loan guarantees are provided under the InvestEU program, which aims to reduce risks for businesses and encourage entry into new markets. Special attention is given to small and medium-sized enterprises that employ fewer than 500 staff.
Expansion of the InvestEU Program to Support Exports to Ukraine
The guarantee mechanisms of the EIF complement the national loss-sharing scheme introduced by the Ministry of Economic Affairs of Finland. This allows Finnvera to issue export guarantees for operations with Ukraine under special conditions. The InvestEU export credit guarantee mechanism, based on cooperation between the European Commission and the EIF group, enables the provision of guarantees to European small and medium enterprises totaling up to €300 million during the export of goods and services to Ukraine.
The EIF guarantee complements the national loss-sharing mechanism established by the Ministry of Economic Affairs of Finland, allowing Finnvera to issue export guarantees to Ukraine under exceptional conditions.
The mechanism, which started in July 2024, is already in significant demand among European Union countries, and the introduction of the pilot project is intended to give an additional boost to the development of Finnish-Ukrainian economic relations.