Finnfund, a Finnish impact investor, is joining forces with the European Union to launch the EU's largest guarantee programme for the digital sector. Under the EU Finnfund Global Connected Guarantee initiative, the EU will provide guarantees worth 222 million euros for Finnfund's investments, helping to mobilise up to 2 billion euros for projects that advance digitalisation in Africa, Asia and Latin America. In addition, the EU will support the preparation of Finnfund's new investments with 13 million euros.
Finnish companies will have opportunities to supply technology or services to businesses in developing countries where Finnfund invests. Investments may also be made directly in Finnish-owned companies operating in these markets.
"This programme creates pathways for Finnish digital expertise to access new international markets. Bridging the digital divide is not only a significant commercial opportunity but also a way to generate impact. The programme focuses on building broadband connectivity, developing digital solutions, and improving access to products and services. Investments may include subsea cables, data centres, mobile payment solutions, artificial intelligence and other digital innovations."
