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#JunckerPlan supports €190 million in financing for small and medium businesses in #Finland
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, including Aktia Bank Plc, Fennia Mutual Insurance Company, Nordea Bank Abp, OP-Services Ltd, Oma Savings Bank Plc and Savings Banks' Union Coop. The agreement is signed under the COSME programme and benefits from the guarantee of the Juncker Plan's European Fund for Strategic Investments. Elżbieta Bieńkowska, European Commissioner for Internal Market, Industry, Entrepreneurship and SMEs, said: “Small European businesses that want to grow faster are still facing substantial challenges in obtaining financing. This is why support from EU programmes such as COSME and the Juncker Plan are crucial. I commend Finnvera for taking the initiative in joining forces with the European Investment Fund to help close the financing gap for SMEs in Finland.” A press release is available here. 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 businesses across Europe.
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