The FINANCIAL — NIB and the Finnish Fund for Industrial Cooperation Ltd. (FINNFUND) have signed a ten-year-maturity loan programme totalling USD 40 million (EUR 36 million) for onlending to projects in Finnfund’s target countries complying with NIB’s mandates.
With the help of NIB’s loan facility, Finnfund aims to increase lending to projects in developing countries that involve investments and technologies from Finnish growth-oriented companies seeking to internationalise their operations. The facility will support projects that contribute to the fulfilment of NIB’s and Finnfund’s mandates, according to NIB.
Finnfund is Finland’s development finance institution that provides long-term investment loans and risk capital to private projects in developing markets. The fund’s operations include project financing in the manufacturing sector, forestry, agribusiness, power generation, telecommunications and services. Currently, Finnfund is financing for example several climate-related projects and renewable energy ventures in Latin America, Africa and Asia.