The European Investment Fund (EIF), part of the European Investment Bank (EIB) Group, and Finnvera, Finland’s export credit agency, are launching a €30 million pilot project to support Finnish exports to Ukraine.
This was reported by Ukraine’s Ministry of Economy.
The agreement enables Finnvera to provide export credits to Finnish companies trading with Ukraine, backed by guarantees from the EIF under the InvestEU export credit guarantee mechanism.
"We are pleased to see significant interest from EU member states’ export credit agencies, like Finland’s, in supporting Ukraine’s recovery and strengthening economic ties. This cooperation is exactly what both Ukraine and European businesses need. We are grateful to the European Commission and the EIB Group for creating mechanisms that open new trade opportunities between Ukraine and the EU," said First Deputy Prime Minister and Minister of Economy Yuliia Svyrydenko.
The pilot project will support Finnish small and medium-sized enterprises (with fewer than 500 employees) by reducing risks as they explore new opportunities in the Ukrainian market, despite the ongoing war. The EIF guarantee complements Finland’s national loss-sharing mechanism, introduced by the Ministry of Economic Affairs and Employment, which allows Finnvera to issue export guarantees to Ukraine under exceptional conditions. This is one of 13 such agreements being prepared with national export credit agencies across EU member states under this mechanism.
The Ministry of Economy reminded that 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. The mechanism was launched in July 2024 and is in high demand among EU countries.
Finnvera is a state-owned specialized financing company and Finland’s official export credit agency. Its mission is to support new business creation, growth, investment, and restructuring, as well as internationalization and exports through financing.
