Government proposes comprehensive reform of legislation governing Finnvera
On 5 June 2025, the Government submitted to Parliament a proposal for an act on specialised financing activities and their organisation. The act would provide Finnvera with better opportunities to operate effectively as a state-owned specialised financing company and to perform its economic and industrial policy tasks.
The proposal aims to make Finnvera’s operations clearer and more efficient, especially in promoting exports, and to strengthen the preconditions for exports and risk management.
“Finnvera is a central government tool for supporting Finland's economic growth. With the updated regulation, Finnvera will be able to promote Finnish companies' exports and investments more efficiently and thus fulfil its industrial and industrial policy task. Finnvera will in future be able to expand its operations to more than one sector once the sectoral boundaries that previously restricted it are removed. This will enable Finnvera to serve more and more eligible companies,” says Minister of Economic Affairs Wille Rydman.
The new act would lay down provisions on Finnvera's objectives, tasks and structure and the main features of the financial framework available to the company, taking into account the central government’s risk-bearing capacity. The new act would repeal ten acts and nine decrees that currently regulate Finnvera’s operations. Another objective of the reform is to clarify the regulation and consolidate all relevant provisions into a single act, without significantly changing the main principles and authorisation limits of the operations. Under the proposed act, the Financial Supervisory Authority would be responsible for the company's financial supervision. The purpose of the reform is to ensure that the public enterprise financing system functions well and to secure the international competitiveness of export financing, especially in order to promote the exports of small and medium-sized enterprises and sectors with significant impact as part of Finland's industrial policy objectives.
As a state-owned financing company, Finnvera complements the financial market, and the risks included in financing are shared between Finnvera and other providers of financing. In its capacity as an export finance provider, Finnvera finances exports and its guarantees help manage the political or commercial risks associated with export financing.
The proposed act is scheduled to enter into force on 1 January 2026. The government proposal is related to the budget proposal for 2026. The reform is based on the Government Programme of Prime Minister Petteri Orpo's Government. The proposed act will implement a comprehensive reform of the legislation governing Finnvera Plc and strengthen the company's role in supporting exports and the structures for promoting exports.
Inquiries:
Inkalotta Nuotio-Osazee, Senior Ministerial Adviser, Ministry of Economic Affairs and Employment, tel. +358 50 505 6277