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The EU responds to the competition for global investments - Export credit agency financing to support the EU's Global Gateway strategy
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Competition between countries and continents is intensifying in global export markets. European actors are strengthening their cooperation through the EU's Global Gateway strategy. The Global Gateway is the European Union's response to the increasing export competition and in particular China's Belt and Road Initiative, and it aims for joint European coordination in export supply. Finland and Finnvera are involved in implementing the strategy, and Finnvera has agreed together with European export guarantee agencies that Finnvera's export financing and export credit guarantees can be used in export projects aligned with the Global Gateway.
The Global Gateway aims to increase Europe's global foothold by financing sustainable investments by European companies around the world, building strong partnerships and fair cooperation with countries in Asia, Africa and Latin America. Global Gateway is a European strategy to boost smart, clean and secure links in digital, energy and transport sectors and to strengthen health, education and research systems across the world.
Finland focuses on digitalisation, education and clean transition. Finnish companies are encouraged to submit sustainable development projects specifically related to these themes, which may focus on technology, infrastructure or services. Explore and find out more about the current Global Gateway iniatives and potential export projects on EU’s website.
Global Gateway aims to mobilise up to EUR 300 billion of investments by 2027.
20 European export credit agencies, including Finnvera, from 19 member states have signed a Letter of Interest (LOI) to support the financing opportunities for deals offered under the Global Gateway.
“We encourage Finnish companies to boldly seek export deals also in new, developing markets. Projects related to digitalisation, education and, for example, climate solutions may also be linked to the Global Gateway strategy, in which case it is worth investigating the related financing opportunities. Export credit guarantees can be one way to accelerate and secure transactions, and we are happy to help export companies in these matters, says Team Manager Eeva-Maija Pietikäinen at Finnvera.
The final signatures for the ECA's Letter of Interest were received at the EU ECA Summit in Tallinn, Estonia on 6 November 2024, where all the 19 signature ECAs were represented. Finnvera's Executive Vice President Jussi Haarasilta in the middle.
Further information:
Eeva-Maija Pietikäinen, Team Manager, Structured and export finance, Finnvera, tel. +358 29 460 2674
Mika Relander, Regional Manager, Trade Facilitator, Structured and export finance, Finnvera, tel. +358 29 460 2725
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