As of 24 March

Background

• The Government will make additional financing of EUR 10 billion available to businesses through Finnvera
• The principal operating model is offering guarantees to banks that grant loans
• In addition, the state will increase its coverage of Finnvera’s credit and guarantee losses from 50% to 80%
• The Government has also decided to increase Business Finland

Finnvera

• The Government has prepared a proposal to increase Finnvera Oyj’s domestic financing authorisations from the current maximum of EUR 4.2 billion to EUR 12 billion
• Under its current authorisation, Finnvera Oyj is able to raise its business financing by EUR 2 billion
• The increase in its authorisation to EUR 12 billion will now make an additional EUR 10 billion available to companies

Business Finland

• Business Finland’s grant authorisations will be increased by EUR 150 million to permit immediate business support measures
• The funding is intended for companies to explore and tap into new business opportunities in emergency conditions
• The first funding decisions will be made immediately on 20 March 2020

Sources