The European Investment Bank (EIB) has concluded an agreement with Tesi, a state-owned investment company, to provide innovative small and medium-sized enterprises in Finland with access to €100 million worth of loans.

The agreement was made possible by the support of the Juncker Plan’s European Fund for Strategic Investments. As of July 2018, the Plan is now set to trigger €7.6 billion in investments in Finland and €335 billion across the EU.

Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, was quoted as saying that, “The Investment Plan’s European Fund for Strategic Investments was designed to facilitate small and medium-sized enterprises gain access to finance they need to expand, innovate and create jobs. So far, around 700,000 small businesses across Europe are expected to benefit. I am delighted that, with today’s transaction, the Investment Plan will allow Finnish firms to benefit from €100 million in financing opportunities.”