Government proposes new Finnfund Act

The aim of the legislative reform is to strengthen opportunities for Finnish companies to take part in international development cooperation, improve development finance services for businesses and clarify the performance of public administrative duties. The proposal would establish a subsidiary within the Finnfund Group and transfer to it the public administrative duties related to managing the Finnpartnership programme. Strengthening the role of businesses in development cooperation The proposal implements an objective set out in the Government Programme to increase the participation of Finnish companies in development cooperation and development policy investments and to promote their opportunities to operate in developing markets. Finnfund already works with Finnish companies in projects where they act, for example, as technology suppliers, owners of investee companies and co-investors. The legislative amendment would give Finnfund greater flexibility to finance projects through a Finnish company when the project is carried out in a developing country. “We want more Finnish businesses to participate in development cooperation and development policy investments in ways that s...