Sector limitations of Finnvera's financing

Finnvera's financing activities are governed by the law on the state special financing company's credit, guarantee and private equity activities. Companies operating in special sectors of agriculture and forestry, such as greenhouse cultivation, fur farming, seedling growing, forestry services and timber harvesting, are eligible for financing.

In regards of founder contracting, Finnvera's financing activities are governed by the law on the state special financing company's credit, guarantee and private equity activities. 

Finnvera does not finance financial, investment and insurance activities and business based on cryptocurrencies.

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Finnvera does not finance gambling activities.

Finnvera does not finance pornographic adult entertainment.

Finnvera does not finance coal-fired power plants, coal mining and infrastructure projects in the sector.

The limitation does not apply to metallurgical coal used in the manufacture of steel. Measures to reduce pollution from existing power plants are permitted when the life or capacity of the power plant does not increase. A power plant with CCUS technology (carbon capture, utilization and storage facilities) or its installation is not prohibited.

Finnvera does not grant export credit guarantees for new peat power plant projects abroad.

• No export credit guarantees will be granted for the exploration and drilling of new oil or gas fields or for significant extension of old fields or for fixed infrastructure built for these fields (e.g., oil pipelines).
• Export credit guarantees will be granted for oil-fired power plants only in limited situations: reserve power plants or isolated electricity networks located in remote areas where other solutions are not feasible to ensure security of supply or enable use of renewable energy.
• Export credit guarantees will be granted for gas-fired power plants only in limited situations:
  • The power plant serves as a reserve or balancing power plant for renewable energy, or
  • The power plant generates baseload and replaces energy production with higher emissions in the energy network, or the use of renewable energy is not justified.
• The fuel a power plant primarily uses during its life cycle is considered as its primary fuel.
• Finnvera publishes the guaranteed projects within the scope of the policy and their justifications according to its sectoral policy. In accordance with the COP26 declaration, the aforementioned exceptions must be consistent with the 1.5°C warming limit

The policy does not apply to:

• Trade finance (export credit guarantee project with a repayment period of less than 2 years) and projects in Finland
• Non-fossil fuel based energy production (e.g., energy production using biofuels, hydrogen) and sectors outside energy production (e.g., vessels)
• Power generation in energy-intensive sectors (e.g., paper and steel mills)
• Electricity and heat networks and power generation of critical infrastructure in society (e.g., hospitals, water utilities) and projects improving the state of the environment or safety