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European Investment Bank funding growth of Finnish companies

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Staff Writer | August 17, 2018
The European Investment Bank (EIB) and the investment company Suomen Teollisuussijoitus Oy Tesi have agreed on a financing programme to channel funding in support of the growth of Finnish companies.
Europe   The financing to be managed by Tesi targets
The operation is guaranteed under the European Fund for Strategic Investments (EFSI), central pillar of the Investment Plan for Europe of the Juncker Commission.

The financing to be managed by Tesi targets a total of EUR 100 million to promising companies, equally split between the EIB and Tesi. Furthermore, the funding is structured to be complemented by private sector co-investments with another EUR 100 m, totalling EUR 200 m of new investments to the benefit of SMEs and mid-caps.

Traditionally, the EIB has to large extent offered financing to companies in the form of loans and guarantees, which means that for EIB this is a rather new type of financing. Tesi is EIB’s first partner in the Nordics that channels EFSI-guaranteed financing to companies as direct capital investments.