Government proposes new Finnfund Act

The Government will submit a proposal to Parliament for a new act on Finnfund, Finland’s development financier and impact investor. The new act would replace regulation that has been in place for almost 50 years. The reform is intended to improve the administration of the Finnpartnership programme, which channels development finance to businesses, and enhance the services available to companies.

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.

The most significant change for Finnpartnership’s clients would be a reduction in the processing time for Business Partnership Support applications from the current 3–5 months to around 10 weeks.

More information on the Ministry for Foreign Affairs’ website.