Finland Launches Large-Scale Trade Project with Ukraine

According to hvylya.net: The European Investment Fund and the Finnish Export Credit Agency Finnvera have teamed up to create a pilot project worth 30 million euros to support Finnish exports to Ukraine. The agreement will allow Finnish companies trading with Ukraine to access export credits guaranteed by the European Investment Fund under the InvestEU program.

The pilot project aims to support Finnish SMEs with fewer than 500 employees to reduce risks in seeking new opportunities in the Ukrainian market, despite the challenging situation in the country. The guarantee from the European Investment Fund complements the national export support mechanisms already in place in Finland, allowing Finnvera to provide export guarantees to Ukraine under special conditions.

This is one of 13 agreements being prepared with national export credit agencies in EU member states under this mechanism.

The InvestEU export credit guarantee mechanism is a joint initiative of the European Commission and the European Bank for Reconstruction and Development. Its goal is to provide guarantees of up to 300 million euros to support small and medium-sized enterprises from the EU that export goods and services to Ukraine. The mechanism was launched in July 2024 and is in high demand among EU member states.

The project to support Finnish exports to Ukraine through an agreement between the European Investment Fund and Finnvera will enable Finnish companies to obtain the necessary export credits under guarantees, stimulating trade development between the countries and helping the Ukrainian market attract foreign investments. Such initiatives strengthen cooperation and contribute to economic growth both in Ukraine and in Europe as a whole.