Oma Savings Bank
Plc (OmaSp) of Finland
has signed a EUR 20m loan agreement with the European Investment Bank
The financing will be on-lent against favorable rates to local parties, with a focus on small and medium-sized enterprises (SMEs) and agricultural entrepreneurs.
Vice-President Alexander Stubb, responsible for EIB operations in Northern European countries, said: “The geographical presence of OmaSp in Finland ensures that European support can reach those beneficiaries that may previously have had a hard time securing financing for their projects.The EIB Group has worked with OmaSp under the SME initiative, so we’re very confident that this first direct financing will work smoothly to bring benefits to local SMEs and mid-caps.”
”The great cooperation with EIB will improve our competitiveness and gives us access to finance our business customers with favorable conditions. Small and medium-sized enterprises are a significant part of our growing customer base in Finland”, said Pasi sydanlammi, CEO of OmaSp.
OmaSp has a balance of EUR 2.7bn and has become a major financial player in Finland.