Government proposes reform of legislation on financing investment projects in developing countries

The Government is proposing a new act on officially supported investment credits provided to developing countries. The aim is to strengthen opportunities for Finnish businesses to take part in public investment projects in developing countries and to improve the supervision and legal certainty of support. The proposal would also promote Finland’s participation in reconstruction efforts in Ukraine. Prepared by the Ministry for Foreign Affairs, the reform would update legislation enacted in 2000, clarify the rules governing the financing model and improve opportunities to arrange project financing. Officially supported investment credits combine loans granted by an external lender with support provided from development cooperation funds. This model of financing reduces investment costs for developing countries, promotes sustainable development and makes use of Finnish expertise and technology. “The proposal would improve opportunities for Finnish businesses to operate in developing countries and further strengthen their participation in development cooperation and development financing. This objective is set out in the Government Programme. Projects have already been launched in sect

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