Finnvera joins EIF shareholder structure to support SME growth, private investment and innovation across Finland

EIB Vice-President Karl Nehammer (on the left) and CEO of Finnvera Juuso Heinilä met on Friday, November 28th in Helsinki. “Finnvera’s entry as an EIF shareholder is a milestone for Finland’s voice in shaping Europe’s financial ecosystem,” said EIB Vice-President Karl Nehammer.

(IN BRIEF) Finnvera has become a shareholder of the European Investment Fund, giving Finland direct representation in EU-level decision-making for SME financing and strengthening national access to European funding. The EIF provided €606 million to SMEs in Finland during 2024, largely through guarantees issued to banks. With this new ownership position, Finnvera aims to ensure that EU financing more actively supports Finnish businesses and investors. The EIF and Finnvera have long cooperated through risk-sharing mechanisms, including COSME-backed guarantees and the InvestEU Climate and Digitalisation Loan programme, which has financed around €170 million for SMEs since 2023. A new agreement in 2025 will allow Finnvera to issue further export guarantees to Ukraine. EIF Chief Executive Marjut Falkstedt and EIB Vice-President Karl Nehammer both welcomed the development, calling it an important step for European growth, innovation and competitiveness. CEO Juuso Heinilä reiterated that future financing must prioritise renewal, investment and new innovations to strengthen Finland and Europe’s corporate landscape.

(PRESS RELEASE) HELSINKI, 28-Nov-2025 — /EuropaWire/ — Finnvera has officially entered the European Investment Fund (EIF) as a shareholder, strengthening Finland’s role in the European Union’s SME financing ecosystem and giving the country direct representation in decisions that influence funding allocation across Europe. By taking an ownership position, Finnvera intends to actively advocate for the interests of Finnish businesses, financial institutions, and private equity investors, ensuring that EU financing channels effectively reach the national economy.

The EIF plays a major role in supporting small and medium-sized enterprises in Finland, having directed €606 million into the sector in 2024 alone. Of that total, €561 million consisted of guarantees largely issued to banks, demonstrating the fund’s significance in local credit delivery and business growth.

Finnvera is already a key partner of the EIB Group and has a long-standing relationship with both the EIF and EIB. Pictured from the left Finnvera’s CEO Juuso Heinilä, EVP Juha Ketola, Head of International Affairs Pekka Karkovirta and EIF regional representative Juho Aminoff, Head of EIB Group Office in Finland Jaani Pietikäinen and Vice-President Karl Nehammer.

Finnvera CEO Juuso Heinilä emphasised that this step opens a clear pathway for European funding to flow more efficiently to Finnish companies. He highlighted the goal of improving access to financing for banks and private equity investors operating within the country, stating that EU-backed capital must be channelled in a way that best supports Finland’s economic growth and competitiveness.

The EIF is part of the European Investment Bank Group, serving as its specialised entity for SME support through guarantees, equity investments and financial instruments. The European Commission and the EIB are the organisation’s majority shareholders, alongside 41 total owners ranging from public institutions to private financial entities. Finnvera is now the only Finnish shareholder, marking the first time Finland gains a formal seat in EIF decision-making. The share acquisition was authorised by Finnvera’s Board of Directors.

EIF Chief Executive Marjut Falkstedt welcomed the announcement, noting that Finnvera has been an important cooperation partner for years. She said the new shareholder relationship builds on successful collaboration, which has already introduced high-demand financial instruments to the Finnish market. This development, she added, deepens both organisations’ commitment to a strong and integrated European financial environment.

Karl Nehammer, Vice-President of the European Investment Bank, described the move as a milestone that amplifies Finland’s voice within the European financial landscape. He highlighted that integrating Finnish participation in EIF governance strengthens the group’s ability to direct financing toward innovation, competitiveness and sustainable development across Europe.

Finnvera and the EIF have partnered since 1998 through multiple risk-sharing arrangements that have expanded financing opportunities for SMEs. Since 2019, COSME-backed SME Guarantees have supported thousands of Finnish businesses, while the joint InvestEU Climate and Digitalisation Loan programme has provided approximately €170 million in financing since mid-2023. A new guarantee agreement signed in June 2025 will enable additional export guarantees specifically aimed at supporting Ukraine.

Looking ahead, CEO Juuso Heinilä believes European corporate finance should evolve to prioritise growth, renewal and innovation. He stressed that funding must reach new business models rather than reinforce outdated structures, and that ensuring strong capital flow to Finnish companies will be a decisive factor for the nation’s competitive future.

Contact information:

Tiina Riippa, Communications Manager, Finnvera, tel. +358 29 460 2865

Kristiina Randmaa, Media Officer for Finland and the Baltics, EIB, tel. +352 6912 16375 (mobile) 

Background information

Finnvera strengthens the operating potential and competitiveness of Finnish enterprises by offering loans, guarantees, export credit guarantees, and other services associated with the financing of exports. Finnvera is a specialized financing company owned by the State of Finland and the Export Credit Agency (ECA) of Finland. Finnvera is one of the key organizations in Team Finland network that accelerates business internationalization and growth. At the end of September (Q3/2025), Finnvera’s total exposure for domestic loans and guarantees as well as export credit guarantees, export guarantees and special guarantees amounted to EUR 26.3 billion. For more information, visit www.finnvera.fi/eng

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.

SOURCE: Finnvera