Finnvera’s authorisation to grant domestic financing raised

The Ministry of Employment and the Economy has decided to raise the authorisation of Finnvera plc to grant loans and guarantees for investments and working capital in 2009 by EUR 210 million. The loans and guarantees do not include any interest subsidy. The authorisation decided previously by the Ministry was EUR 650 million. After the raise, the total amount of non-subsidised loans and guarantees that Finnvera can grant for investments and working capital this year is EUR 860 million.

In addition, Finnvera can grant credits within the scope of regional interest subsidy schemes as well as credits included in the specific interest subsidy programmes supported on industrial policy grounds. In total this year, Finnvera can grant slightly over EUR 1.1 billion in financing encompassed by the Government’s commitment to compensate Finnvera for some of its credit and guarantee losses.

Additional information:
Leena Jaakkola, Senior Vice President, Communications and Marketing, tel. +358 20 460 7232
Ulla Hagman, Senior Vice President, Finances and IT, tel. +358 20 460 7409