Government to increase Finnvera’s maximum guarantee liability for special risk-taking

On 3 April 2025, the Government submitted to Parliament its proposal for an act amending the Act on the State’s Export Credit Guarantees to increase the maximum guarantee liability for special risk-taking from EUR 8 billion to EUR 12 billion.

Following the amendment, special risk-taking would account for a larger share of total liabilities. However, the amendment would not affect the maximum size of export and ship credits authorisation (EUR 33 billion) nor the total maximum amount of export credit guarantees and hedging arrangements (EUR 38 billion). The proposed increase is related to ongoing financing negotiations and the associated need for special risk-taking.

Finnvera, a state-owned specialised financing company, may grant an export credit guarantee as special risk-taking when the risk associated with the export or foreign investment or their financing is so high that no export credit guarantee would be granted on the basis of a regular risk assessment. Granting an export credit guarantee as special risk-taking requires a decision of the Ministry of Economic Affairs and Employment that there are important grounds related to economic policy or competitiveness for granting the guarantee.

Special risk-taking is a means to help Finnish companies spread their export activities to new markets involving higher-than-usual risk. The increase to the maximum guarantee liability will also help diversify the Finnish export base.

The proposed act is scheduled to enter into force on 1 June 2025.

Inquiries: 
Mikko Huuskonen, Senior Ministerial Adviser, Ministry of Economic Affairs and Employment, tel. +358 295 063 732
Kari Virtanen, Senior Ministerial Adviser, Ministry of Economic Affairs and Employment, tel. +358 295 047 707