Finnish businesses to get green-investment boost of more than €400 million as Nordea Bank and EIF team up

• Finnish companies to receive as much as €437 million in loans for energy upgrades as a result of financial deal between Nordea Bank and EIF 
• Backed by InvestEU, initiative provides favourable financing for moving to clean power and saving more energy      
  

Helsinki/Luxembourg, 16 December 2024: A range of Finnish companies will receive more than €400 million in financing for energy upgrades as a result of a financing agreement between Nordea Bank and the European Investment Fund (EIF).

Under the guarantee agreement, small and medium-sized enterprises (SMEs) as well as small Mid-Caps in Finland will be able to tap projected financing of up to €437 million for green and sustainable investments such as solar panels, electric cars, energy efficiency, and the adoption of digital technologies. The EIF, which is part of the European Investment Bank (EIB) Group, is providing guarantees that will ensure favourable terms, such as reduced interest rates, by Nordea. 

“Nordea is committed to supporting Finnish businesses as they transition towards a greener future,” says Nina Arkilahti, Head of Nordea Business Banking. “The new EIF accord will offer even broader opportunities for our customers to play a key role in Finland’s green transition.”

The guarantees are backed by the European Commission’s InvestEU programme, which aims to trigger more than €372 billion in additional investment between 2021 and 2027 for EU policy priorities including the green and digital transitions.  

“We’re delighted to work closely with Nordea to ensure that Finnish businesses receive the financial support needed for the green transition,” said EIF Chief Executive Marjut Falkstedt. ”This new agreement will boost access to funding, enabling small businesses to grow while driving a greener future.”

The EIF loan guarantees from which Finnish SMEs and small Mid-Caps in Finland will benefit are:

• The Sustainability guarantee: Supports the transition to a green and sustainable economy by promoting environmentally friendly and inclusive investments such as decarbonisation, renewables and energy efficiency. 
• The Innovation guarantee: Enhances access to finance for research and innovation intensive companies to support their use and adoption of digital technologies. 

The partnership between Nordea and the EIF equips Finnish SMEs and small Mid-Caps with financing needed to thrive in an increasingly competitive and environmentally conscious market. With Finland at the forefront of sustainable development, this partnership will play a important role in shaping the country’s economic future. 

In addition to the new financing for Finnish SMEs and small Mid-Caps, the EIF is teaming up with Nordea to offer funding to businesses in Sweden, Norway and Denmark. 

Background information

The European Investment Fund is part of the European Investment Bank Group. Its central mission is to support Europe’s small and medium-sized enterprises (SMEs) by helping them access finance. The EIF designs and develops venture and growth capital, guarantees and microfinance instruments that specifically target this market segment. In this role, the EIF furthers key EU policy objectives such as competitiveness and growth, innovation and digitalisation, social impact, skills and human capital, climate action and environmental sustainability, and more. 

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investments for the European Union’s policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment. 

Press contacts 

Kristiina Randmaa, tel.: +352 4379 72894 — k.randmaa@ext.eib.org
Website: www.eif.org — press@eib.org