The European Investment Fund (EIF), part of the European Investment Bank Group, and Finnvera, Finland’s export credit agency, are launching a €30 million pilot project to support Finnish exports to Ukraine. The agreement enables Finnvera to provide Finnish companies trading with Ukraine with export credits backed by EIF guarantees under the InvestEU export credit guarantee instrument. 

The pilot project will support Finnish SMEs with fewer than 500 employees by reducing risks when exploring new opportunities in the Ukrainian market, despite the ongoing war. The EIF guarantee complements a national loss-sharing mechanism introduced by Finland’s Ministry of Economic Affairs and Employment, which allows Finnvera to issue export guarantees for Ukraine under exceptional conditions. This is one of 13 agreements being prepared with national export credit agencies in EU member states under this mechanism. 

The InvestEU export credit guarantee mechanism is a joint initiative of the European Commission and the EIB Group. It aims to provide up to €300 million in guarantees to support EU SMEs exporting goods and services to Ukraine. Launched in July 2024, the mechanism has seen high demand across member states.

Reference source: http://surl.li/hsdbfhdsbfh3hbdf