Government guarantee for Finnvera credit facilities
Ministry of Finance's release:
On 20 September 2012 the Government granted a government guarantee of EUR 3 billion for Finnvera plc credit facilities. This enables a new form of credit-based export financing designed to secure the competitiveness of Finnish export companies. The system aims to facilitate the organization of finance vehicles for Finnish capital goods exports.
The government guarantee covers loans with a maximum maturity of 25 years raised over the next 5 years and related interest and foreign exchange arrangements and other pertinent hedging as well as interest and other terms and conditions in the contracts. The guarantee is not subject to a guarantee fee.
The Ministry of Employment and the Economy has been appointed to make an assessment by the end of 2016 on the functioning and effectiveness of the guarantee and the new export financing facility.
Inquiries: Mr Jaakko Weuro, Senior Legal Officer, tel. +358 2955 30302