EMN Exchange Visit Finland - September 2005 Finnvera 0 Table of - - PDF document

EMN Exchange Visit

Finland - September 2005

Finnvera

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Table of Contents

HOST ORGANISATIONS’ GEOGRAPHICAL DISTRIBUTION ..........................................................................................2 PROGRAMME ..................................................................................................................................................................3 FINNVERA........................................................................................................................................................................4 FINNVERA’S PRESENTATION..............................................................................................................................................4 THE FINNISH MICROFINANCE SECTOR ................................................................................................................................7 PARTICIPANT’S PRESENTATION....................................................................................................................................8 ADIE (FRANCE) ..............................................................................................................................................................8 ANOFM (ROMANIA)......................................................................................................................................................9 ASOCIACI€N SURT (SPAIN) ...........................................................................................................................................10 “BESA” FOUNDATION (ALBANIA)...................................................................................................................................11 EVERS & JUNG (GERMANY)............................................................................................................................................12 FONDS DE PARTICIPATION (BELGIUM) ............................................................................................................................13 FUNDACI€ UN SOL M€N (SPAIN)...................................................................................................................................14 INTEGRA VENTURE FOUNDATION (SLOVAKIA) .................................................................................................................15 MFC - MICROFINANCE CENTRE FOR CENTRAL AND EASTERN EUROPE (CEE) AND THE NEW INDEPENDENT STATES (NIS) (POLAND)....................................................................................................................................................................16 RURAL DEVELOPMENT FOUNDATION (POLAND) .............................................................................................................17 WEETU (UNITED KINGDOM).........................................................................................................................................18 LIST OF PARTICIPANTS.................................................................................................................................................19 FINNVERA’S OFFICES AND HOTEL’S LOCATION........................................................................................................22 LOCAL TRANSPORTATION TIMETABLE......................................................................................................................24 GROUPS..........................................................................................................................................................................24 ANNEXES........................................................................................................................................................................25 LOCATION MAPS...........................................................................................................................................................25

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Finland Exchange Visit

28-30 September 2005

Host Organisations’ geographical distribution

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Programme

Exchange Visit agenda: overview

The visit is going to take three full working days. Time Description

28 September Introduction - Welcome to Finnvera, Kari Villikka, Vice president, Domestic Financing 9.00-12.00 Presentation about Finnvera and the Finnish micro-credit sector in general, Martin Ingman, Head of the Unit , Eu affairs, Anneli Soppi, Development Manager Getting to know each other: Short self-introduction of visitors and organisations (5 minutes each) 12.30 Travel to host organisations: lunch on route; arrival mid-late afternoon when delegates will receive a presentation by host organisation Evening Common activity / informal exchange 29 September Field day – Delegates observe host organisation 9.00-11.00 Meeting / Interview / Activity 1 11.00-13.00 Meeting / Interview / Activity 2 14.00-17.00 Meeting / Interview / Activity 3 17.00-19.00 Writing up field notes 30 September Field morning + mutual learning conclusion 9.00-10.00 Meeting / Interview / Activity 4 10.00-11.00 Meeting / Interview / Activity 5 11.00-12.00 Debriefing with local structure visited 13.00 Travel back to Helsinki 18.00-20.00 Debriefing and conclusions Evening Dinner (informal gathering)

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Finnvera

Finnvera’s presentation

Finnvera plc is a specialised financing company offering financing services to promote the domestic operations

• f Finnish businesses and to further exports and internationalisation of enterprises. Finnvera is 100% owned by

the State of Finland. Finnvera acts as Finland’s official Export Credit Agency (ECA), too.

Finnvera in brief

 specialised financing company owned entirely by the Finnish state  share capital 196,6 million euro  balance sheet total 1 504 million euro  Finnvera plc's outstanding commitments 31.12.2004

• credits and guarantees about 2 billion euro
• export credit guarantees and special guarantees about 4 billion euro

 26 300 clients  16 regional offices  404 employees

How does Finnvera operate?

A specialised financing company owned by the State of Finland, Finnvera plc provides services to supplement the Finnish financial market. Finnvera’s task is to correct the market imperfections in SME financing. Via it•s finance facilities Finnvera promotes the development of enterprise, regions and the exports of Finnish

• companies. Finnvera carries out this task by improving the range and versatility of financing options available

to enterprises through loans, guarantees and export credits. Finnvera grants loans to enterprises and entrepreneurs, and issues guarantees and export credit guarantees to enterprises and financiers. Finnvera participates in the financing of enterprise activities based on a profitable business idea when the risks associated with financing - often insufficient security - prevent the enterprise from obtaining financing on market

• terms. Situations of this kind are typical for starting or expanding enterprises, or enterprises engaged in exports.

Start-ups are one of the most important client segments of Finnvera. Annually about 60% of new customers are start-ups. Start-ups differ by background and by objectives of an entrepreneur. The finance demand of an self- employed differs from that of borne global.

Finnvera‚s Micro-credit Schemes

Finnvera€s microcredits are a kind of down scaling of SME-lending and particularly micro-enterprise lending. Finnvera can take higher credit risks than private credit institutions. Apart from access to finance, small companies, particularly start-ups need additional support trough advice, training and mentoring. In Finland these non-financial services are provided by competent local bodies: Employment & Economic Development Centres, Job and Society Agencies and Women€s Enterprise Agency. Together in partnership with these bodies, parties Finnvera€s finance facilities build a service chain. Finnvera’s ability to take risks in domestic financing is enhanced by the commitment given by the State of Finland to compensate for a certain share of Finnvera’s credit and guarantee losses. Finnvera transfers this support to its own clients by reducing the price payable for loans or guarantees accordingly. Through its special loans and guarantees, Finnvera also acts as an intermediary between the European Union's financing programmes and Finnish SMEs.

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In Finland, the company participates in regional venture capital investments through its subsidiary, Veraventure Oy, by making investments in regional capital funds. Finnvera acts as Finland’s official Export Credit Agency (ECA) Finnvera serves its clients through 16 regional offices in Finland and through the representation office in St. Petersburg.

Mission

Finnvera has, as prescribed by law, three main tasks. It supplements the financial market and provides financing to promote  the operations of SMEs  the exports and internationalisation of enterprises, and  implementation of the government’s regional policy goals.

Vision

In 2010 Finnvera shall be a public specialised financing agency of the highest international standard, providing its clients with internationally competitive specialised financing services.

Values

Finnvera’s value statement, An Expert Esteemed by Clients, characterises the company’s way of acting for the fulfilment of its mission, vision and strategic goals. Our objective of being an Expert Esteemed by Clients crystallises the company’s value base, the central elements

• f which are trust and honesty, benefits to clients, being a forerunner, profitability and effectiveness, and

constant development of competence. Fulfilment of the values is monitored annually by means of customer satisfaction and interest group studies and through surveys of the company’s internal atmosphere.

The client

In domestic financing, Finnvera’s clients are entrepreneurs and founders of enterprises, as well as SMEs in the phases of start-up, growth and internationalisation. In foreign risk-taking, the clients are Finnish enterprises as well as banks and financial institutions in Finland and abroad.

Social responsibility and ethical issues

The starting point in Finnvera's operations is social responsibility. Each year the Ministry of Trade and Industry defines goals and indicators for Finnvera; these are used to monitor how well the company has succeeded in its three basic functions. For instance, the following indicators are used: the number of new enterprises created with the help of Finnvera's financing; the number of new jobs in both new and growing enterprises; and the share of financing granted in developing areas out of all financing granted. Finnvera€s finance decisions are based on profitability of the enterprise or prerequisites of profitability as well as competence of an entrepreneur. As a social objective, Finnvera emphasises job creation, growth potential and environmental protection. Finnvera€s finance facilities are available nation wide. Finnvera€s operation is connected in a wider context - government’s entrepreneurship policy programme.

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In domestic financing, Finnvera’s environmental policy complies with Finland’s environmental legislation. In addition, by offering environmental loans and guarantees, Finnvera encourages Finnish SMEs to invest in environmental protection. Finnvera’s environmental policy in activities involving export credit guarantees is based on the company’s role as Finland’s official export credit agency, its goal being to promote and develop export and internationalisation benefiting the Finnish economy. The company’s environmental policy is in line with practices followed by export credit agencies in Finland’s principal competitor countries. The legislation on Finnvera sets down the principles for responsible operations. Moreover, Finnvera’s mission, vision and strategy, as well as the definition of the company’s values, are based on the concept of responsibility.

Effectiveness and profitability

The effectiveness of Finnvera’s activities in terms of industrial policy can be measured, for instance, by calculating the number of new enterprises and new jobs created in projects where Finnvera has been one of the financiers. Co-operation with financiers and public enterprise service organisations creates a solid foundation for reaching the objectives set for profitability and effectiveness.

Creation

 Finnvera was created through the merger of Kera Corporation and the Finnish Guarantee Board on 1 January 1999.  The personnel (386 at 1 January 1999) of both Kera and the Finnish Guarantee Board retained all their previous benefits when they were transferred to the new company.  Kera Corporation and the Finnish Guarantee Board were merged to make the state's specialised financing operations more effective and to be able to offer all Finnish companies financing services to further the domestic operations, exports and internationalisation activities from one organisation.

Part of an international co-operation network

Finnvera is active in several European networks and associations set up by financial institutions for SMEs:  NEFI (Network of European Financial Institutions for SMEs)  ISLTC (Institutions in the European Union Specialising in Long-term Credit)  EAPB (European Association of Public Banks)  AECM (European Mutual Guarantee Association)  EURADA (European Association of Development Agencies)  EMN (European Microfinance Network) The objective of international co-operation in the sector of export credit guarantees is to prevent competition with officially supported export credit terms and to promote sound principles for guarantee activities. In addition, Finnvera has signed bilateral co-operation and reinsurance agreements with many individual guarantee agencies. As Finland's official export credit agency, Finnvera participates in the activities of the following working groups and co-operation bodies  European Council Working Group on Export Credits  Working Party on Export Credits and Export Credit Guarantees under the OECD Trade Committee  Participants to the Arrangement on Guidelines for Officially Supported Export Credits  Berne Union - the co-operation body of export credit agencies  Co-operation among the Nordic export credit agencies  Paris Club - a forum for public creditors

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Domestic Finance

Finnvera's objective is to provide risk financing to enterprises with a sound business idea and preconditions for profitability when a company has insufficient collateral to raise funds for investments and development projects. Finnvera can provide financing for almost all business sectors: industry, trade, tourism, business-to-business and consumer services for different sizes of SMEs. Excluded business sectors are forestry, field and animal husbandry in the agricultural sector and developers in the construction business. In allocating financial services, Finnvera adheres to the business field limitations regulated by the EU regarding state subsidies. Finnvera's product portfolio covers all development stages of an enterprise, ranging from loans and guarantees for start-up and micro-enterprises to export credit guarantees for large Finnish exporters and their financiers.

The Finnish microfinance sector

Finland is known for equal opportunities. In Finland people normally have access to finance- and insurance

• services. There is how ever a finance gap concerning certain client segments or certain business sectors. Access

to finance is depending of the size of an enterprise, business sector, finance purpose, the financial capacity of the entrepreneur and very often of collateral. Normal banking services and insurance services are not available to the people with indigence. The insufficient availability of micro-credits is a crucial problem when a business is founded by unemployed persons, women, or representatives of an ethnic minority. With women the problem is related to the business sector with less prestige.

Number of banks and branches unchanged

At the end of 2004 the number of banks in Finland was 344 (The Finnish Bankers`Association). There were 12 commercial banks, 239 co-operative banks belonging to the OP Bank Group, 42 local co-operative banks, 40 savings banks and 11 branches of foreign credit institutions accepting deposits. The aggregate market share of Nordea Bank Finland, Sampo and the OP Bank Group is more than 80 per cent.

Micro-credit

The development of micro-credit in general has shaped up from co-operative businesses, trade and dairy -

• perations, which have started financing in agriculture. This activity has developed especially co-operational

banking sector. Co-operational banking sector and local saving banking sector targets their finance facilities to micro-business in comparison to commercial banks. A finance trough bank is however always depending on

• collateral. Small loans, microloans are less appealing to banks due to the high transaction costs and lack of

collateral. Finnvera is operating in close co-operation with banks and correcting the market failure in this finance segment. You do not find credits called micro-credits in Finnish banks. Small loans provided by banks often are loans for private persons and household in terms of online service agreements, credit cards and accounts with overdraft. Finnvera€s lending business has its roots in the 1970€s. Lending was at the beginning provided to the enterprises in the less developed and rural areas. Credits under the name Micro-credits were borne in the middle

• f 1990€s to fight against high unemployment rate (15%) and to boost self-employment. Micro-credits are today

part of the SME-lending with a special service. Micro-credit schemes form a service chain together with providers of non-financial services. Finnvera can also promote lending to micro-business at banks by providing them with Guarantees (Small Enterprise Guarantee).

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Participant’s Presentation

Adie (France)

Adie was created in France, in December 1988 by Maria Nowak with the aim of adapting the microcredit system to the French environment. It was founded in recognition of the need for access to capital and the removal of administrative constraints for creating self-employment. Its mission is to finance and support unemployed individuals who wish to create their own business but do not qualify for a standard bank loan. Furthermore, Adie uses its experience to propose improvements in the existing regulatory framework governing microfinance and microenterprises. Adie provides financing and business advice to its clients, most of whom are microentrepreneurs that were previously unemployed and recipients of welfare benefits. The association finances self-employed and microenterprises through a variety of products:  Loans at market rate up to 5 000 euros.  ‚ Start-up grants ƒ funded by the government or by the local authorities.  Non interest bearing subordinated loans. Individual financing generally doesn't exceed €10 000. In addition, Adie staff and volunteers provide business advice to microentrepreneurs, such as:  Assistance in preparing a business plan, jointly with other business advice organisations.  Administrative assistance, business management, marketing advice. Adie finances a variety of types of projects. The capacity and motivation of microentrepreneurs as well as the feasibility of the project are the main decision criteria. Loans are granted by a credit committee made up of volunteers (business and finance professionals) as well as appointed employees of our partner banks. A majority of the projects approved are for micro enterprises in the trade and service sectors: website developers, home decorators, florists, grocers, electricians, artisans, bars and restaurants, architects, photographers, farms, etc. Adie currently has 10,000 active clients. Since 1989, 28,000 micro enterprises have been funded, with approximately 5,000 new members every year. The survival rate for its clients' businesses after three years of

• perations is 54% (higher than the national rate of survival for sole proprietor enterprises).

Adie contributes to the improvement of the legal and regulatory framework for micro credit and self-employment at the national and European levels. Today, there is a need in France for solidarity credit estimated to be around 30,000 to 40,000 loans, though 200,000 to 300,000 could be supplied should the regulatory framework be simplified, social insurance contributions reduced, and financial resources increased.

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ANOFM (Romania)

In order to organise and co-ordinate the specific activity in the counties and the city of Bucharest, the National Agency for Employment has within its structure agencies established at county and Bucharest level, units organised as legal persons. The county Agencies for Employment may establish sub-units in order to provide specialised services. The main objectives of the National Agency for Employment are the following:  to enforce the social dialogue in the field of employment and vocational training;  to implement the strategies in the field of employment and vocational training;  to implement the social protection measures for the unemployed. In order to accomplish its tasks, the National Agency for Employment has the following main attributions:  to organise employment services;  to organise, provide and finance, according to the law, employment services for the unemployed;  to guide the unemployed and to act as a mediator between them and employers in order to balance the labour demand and supply;  to forward proposals regarding the working out of the draft budget for the Unemployment Fund;  to administer the budget of the Unemployment Fund and to submit to the Ministry of Labour and Social Solidarity quarterly and yearly financial execution reports;  to propose to the Ministry of Labour and Social Solidarity draft pieces of legislation in the field of employment and vocational training and for social protection of the unemployed;  to implement programs financed out of the European Social Fund;  to function as Intermediate Body for the Sectoral Operational Program for Social Policy and Employment.  to organise the assessment, payment and recording of the benefits, allowances and indemnities financed from the Unemployment Fund;  to draw-up, according to the social performance indicators established by the Ministry of Labour and Social Solidarity, annual time tables that are submitted to the approval of the minister of labour and social solidarity. The National Agency for Employment provides, free of charge, according to the law, employment and vocational training services to the interested natural and legal persons. The main services delivered by the National Agency for Employment to the natural persons are the following:  vocational guidance and counselling of the unemployed and other persons with a view to finding a job;  training and retraining of the unemployed;  professional reconversion of the staff from the enterprises subject to restructuring in order to prevent unemployment;  calculation and payment of the social protection entitlements to the unemployed and other socio-professional categories, according to the law. The National Agency for Employment may also entrust, according to the law, providers in the public or private sector with the delivery of employment and vocational training services; the accrediting criteria are to be regulated by way of a Decision of the Government. The expenditures related to the organisation and functioning of the National Agency for Employment and the county and Bucharest agencies are covered out of the budget of the Unemployment Fund, within the limits of the amounts approved in that budget, but not more than 5% from the total yearly expenditures.

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Asociaciƒn SURT (Spain)

SURT, Women’s association for the labour insertion begins in 1993 with the intention to create and develop initiatives and proposals to facilitate the socio-labour integration of women belonging to collectives at risk of social exclusion. The association is a non-profit organisation founded by women from different fields of expertise that shared experiences, interests and activities in the feminist movement in Barcelona. The work developed by SURT has stressed the importance of developing and encouraging the personal skills and resources within the woman’s general project of life and work, facilitating in this way an integral development where women themselves are active actors and decision-makers of their own process of labour integration and improvement of life conditions. To reach the insertion objective imply, from metodology of SURT, to put the emphasis in the development of the capacities and personal resources necessary to give solidity to the process of socio-labour insertion, harnessing the capacity of management and transference of the personal competitions to the labor context.. We offer:  Itineraries of insertion.  Occupational and pre-occupational formation.  Factories of occupation.  Resources of support.  Intermediation.  Auto-ocupation.  Projects of investigation.  Didactic materials and methodologic Guides.  Services of catering

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“Besa” Foundation (Albania)

BESA Foundation is one of the most important urban microfinance institutions in Albania. It originates from a World Bank project started in 1994 whose assets were transferred to a foundation created by the Open Society Foundation for Albania in 1999. The mission of the “BESA” Foundation is to promote the micro &small enterprises sector in Albanian through the creation of a private self-sustaining Albanian Micro-finance Foundation. This Foundation will finance micro and small entrepreneurs on a sustainable basis. Clients of the “BESA” Foundation will include people from all socio-economic brackets including unemployed and start-up businesses. It will provide the loans for NGO; young people that want to starts up their own business or to developed their existing businesses. It will also provide technical assistance for entrepreneurs including training and studies. The credit methodology is based on individual loans up to US$ 30,000 with a maximum term of 5 years. The loans are backed by collaterals (mainly mortgages). BESA Foundation has obtained an aggregated rating score equal to A. This evaluation is the result of an in-deep analysis of different aspects of the institution, considering a differentiated weight for each area.

Highlights

The staff of BESA is experienced, motivated and with good skills and there is an important emphasis on training. MIS is home made MIS that integrate accounting and loan management system. “BESA” offers a credit product up to a maximum of US$ 30,000 and 5 years of duration (at the end of June 2005 average disbursed loan was US$ 5,453 and average term 24 months) for working capital and investments. About 90% of the portfolio is baked by mortgages. BESA has a lean, non-bureaucratic and rapid process for loan issuing which is very appreciated by clients. The quality of portfolio is good with a PAR>30 days of 1.26% in August 2005. The write-off ratio has been implemented with decision. The write-off ratio has been around 3% in the last two years but BESA has a high rate of recovery of write-off. The sources of founds of BESA are (two) subsidized loans and donated equity. The structure of the liabilities is particularly favourable with neither maturity gap nor foreign currency gap and with a very low financial

• cost. In June 2005, had a leverage (debt to equity ratio) of 2,24.

Key Operational Medium-Term Objectives (2005-2007)

 Provision of approximately $ 86.4 million in Credits during the next three-year period (2005-2006-2007).  Attain an end of YR 2007 portfolio about $ 30 million.  Expansion of branch offices and services to one new district.  Maintain a portfolio at risk of no more than 3% in three forthcoming years.  Increase management and staff efficiency to an average of 130 active loans/per loan officer in the end of 2007.  Implementing the other services (in a case of a new legal Status of “BESA”) that will indicate in improving the financial efficiency of “BESA” activity.  Maintaining and improving the self-financial sustainability in the three forthcoming years. Result of "BESA" Foundation as to end of August 2005 Cumulative disbursed amount US$ 101 million Cumulative loan number 23,860 Outstanding balance US$ 21.6 million Numbers of active loan 5,850 Average outstanding/active loans US$ 3,700 PAR -Portfolio at Risk > 30 days (in %) 1,26% Financial Self-sustainability 101,8% Operational Self-sustainability 140,4%

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Evers & Jung (Germany)

EVERS & JUNG combines research and consulting in financial services. Its work is based on a philosophy of using financial services to solve problems intelligently. The focus is retail banking, or more precisely, the quality of banking products and advice, financing for small businesses, and financial services targeted for social benefit. Micro-lending is one

• f the core activities of EVERS & JUNG. Dr. Jan Evers supported the European Microfinance Network as a board

member 2003 to 2005. EVERS & JUNG was together with Adie and nef founder of the EMN. EVERS & JUNG supports financial service providers, disseminators (media, non-governmental organisations, consultants), and public authorities

• n the regional, national and international scale with independent analysis

and innovation. On micro-lending and SME support issues, the company works in close cooperation with the KfW Bankengruppe and with micro-lending

• rganisations in Germany. It concentrates on improving performance and
• utput of the German and European initiatives by analysing international

best practices. Within these efforts, EVERS & JUNG initiated a first-time survey (hosted by KfW) on the current German micro-lending landscape in spring 2004.

Main Projects and Expected Developments

• FIRMENHILFE: EVERS & JUNG runs a regional telephone hotline for micro-businesses in crisis. More than

1000 entrepreneurs have been successfully coached (since 2001).

• Monitoring micro-finance clients: Since 2004 it supports one of the largest micro-lender in Germany, the

regional authority of Hamburg, with an ongoing monitoring of its clients. In the project Telecoaching each client will be called every three month to reflect progress and give hands-on advice.

• Financial Engineering for Local Development: Within an EU project, EVERS & JUNG and five partner
• rganisations looked for better ways to implement European Structural Funds into local and regional development

projects (2001-2003).

• The future of SME finance: EVERS & JUNG develops SME finance products for banks (2005) at the same time

as working as think tank for national (2003) and regional governments (2004) how to improve SME finance environment.

• Policy measures to promote micro-finance for social inclusion: FACET, EVERS & JUNG and nef compared

eight European countries to identify policy measures that make the environment more “self employment friendly”.

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Fonds de Participation (Belgium)

Fonds de Participation is a Federal Public financial institution which supports and encourages entrepreneurship. It fulfils its missions under the auspices of the Minister for the Middle Class, of the Minister of Finances and of the Minister for Employment. Fonds de Participation pursues a dual socio-economic goal:

• To facilitate access to bank finance to independent entrepreneurs and SME’s which are launching, handing over or

expanding their activities, by granting subordinated loans (Starteo and Optimeo Loans).

• To fight unemployment by granting loans to unemployed who want to create their own business (Micro-credit)

Its approach has four main points:

• Fonds de Participation accepts to take risks but also attaches great importance to a reasonable credit policy.
• Accessibility through partnerships with all the credit organisations in the field of the professional credit, and business

support organizations for starters.

• Products adapted to the needs of the independent entrepreneurs. In case of micro-credits, the starter can benefit from

mentoring.

• Speed in the handling of the credit application.

These Fonds de Participation’s clients are the unemployed, social allowance beneficiaries and some groups of foreigners starting small and very small businesses. Most of the clients can receive some external support to prepare their business plan and are followed up for 18 months after receiving a loan. Fonds de Participation povides three types of micro credit:  “Pr€t de lancement” (starter loan) for people interested in starting their business. It can be up to 30,000 € for a period

• ver maximum 10 years

 “Pr€t Solidaire” (solidarity loan) more specifically intended for people in financial and/or social difficulty, eager to be socially integrated by creating their own business. This product was launched in 1997 with the Roi Baudoin

• Foundation. It can be of a maximum of 12,000 € over a maximum period of 4 years

 "Plan jeunes ind•pendants" for unemployed youth under 30 years-old starting their micro enterprise for the first time. The micro credit is 2,250 € without interest and payable after 5 years The federal government decided to stimulate independent entrepreneurship by the reinforcement of Fonds de Participation, through the creation of a financing subsidiary company, the “Fonds Starters”. The Fonds’ objective is to collect additional financial funds which will make it possible for the Fonds de Participation to increase the number of its loans to help new entrepreneurs, either unemployed or not.

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Fundaciƒ Un Sol Mƒn (Spain)

Fundaci• Un Sol M•n is an entity created on February 2000 by Caixa Catalunya, within the framework of its social work, recapturing the original spirit of savings banks to economically promote the most underprivileged and excluded social communities. Un Sol M‡n Foundation was the first Spanish savings bank to create a microcredit programme. The foundation's aims:  To force into motion projects that fight in favour of the excluded communities in our society, that is, the so-called Fourth World. Fundaci• Un Sol M•n aims to support all the enterprises within the new Social Economy that combine social integration of people who have an unfavourable situation with business cost-effectiveness and profitability, along with viable enterprises based on self-employment.  To offer technical and financial support to cooperation for the development of the Third World Countries.  To raise awareness among members of society about situations of poverty, marginalisation, exclusion and social injustice Lines of action:  Microcredit to underprivileged people and communities.  Support initiatives for social and occupational insertion and promotion of social economy.  International micro-financing cooperation.  Edition of OneWorld Spain Internet Portal to facilitate access to solidarity. Un Sol M•n Foundation's program on microcredit for employment, which operates mainly in Catalonia, gives support to activities capable of generating income and offering labour stability to the applicant, whether it is a person or a collective, who has not the warranty nor the reference required to have access to a credit from the traditional financial system. Those who apply for a microcredit have an enterprise idea or

• wn an on-going small company, but also have financial needs. Microcredits aim to finance the purchase of

merchandise, repairs to make premises suitable, and the purchase of the appropriate machinery in order to

• pen or make the microenterprise grow. Projects must be economically feasible and respect the
• environment. A personal engagement from the entrepreneur is firmly required. Microcredit for employment

is exclusively aimed at enterprises settled in Spain. As of July 2005, Fundaci‡ Un Sol M‡n has granted nearly 800 microcredits, most of them to individual entrepreneurs. More than 1600 jobs have been created through both individual and group microloans, and more than 150 employees have been effected through the occupational insertion entities. More than €7.500.000 was granted, out of which about €1.800.000 has been allocated to entities, and approximately €5.700.000 to individual entrepreneurs. The average microloan is around €7.400. Un Sol M•n is working on a project located in some of the poorest areas of Catalonia which aim is to offer economic

• pportunities to the people financially excluded who have a business idea or an existing small company. The aim of this

project is to contribute to the improvement of people’s financial situation in those neighbourhoods and to activate the economy in those areas.

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Integra Venture Foundation (Slovakia)

Integra Foundation is a non-governmental, non-profit grass-root organisation established in Slovakia in 1995. Integra is engaged in the social and economic development of disadvantaged communities in Slovakia and other countries of Central and Eastern Europe (CEE). Its mission is to help people build their small businesses, so they can become "Islands of Integrity" and participate in the transformation of their communities. Integra is achieving its vision through 3 strategic programs:  Micro-Enterprise Development Program: training, micro-credit, market access and other business development services for disadvantaged groups, mainly women  Social Enterprise Program: consulting, training and development finance for small companies with an integrated social and commercial mission  CSR (Corporate Social Responsibility) Program: research, advocacy and consulting services for organisations on business ethics, transparency and anti-corruption issues Integra's microfinance activities are done mostly within the MED program for women. The goal of the MED program is to increase the economic and social standing of women in the target communities and help them to break free from the circle

• f dependency and poverty, through self-employment and microenterprise development. Target beneficiaries are women at

risk (single and divorced mothers, unemployed women, widows and handicapped women, Roma women, etc…). MED program uses the following tools to achieve its objectives:  Training: developing human capital - training leads to the development of a business plan and formation of trust groups  Microcredit: developing financial capital - approved business plans are provided with micro loans of up to €2,000  Market Access and other BDS services: helping clients to access markets through branding support, consulting services, fair-trade retail shops and linkages with bigger retailers and wholesalers  Community Building: developing social capital - community groups, counselling, conferences, seminars and other informal networking opportunities to create environment of trust and mutual support Integra has been active in the development of other MED programs internationally. Since inception, it has launched MED activities in Russia, Romania, Bulgaria and Serbia. As well, Integra is active in MED and CSR ODA projects in Kenya and Sudan, in partnership with SlovakAid. Strategic planning for 2005-2006 includes the following developments: Expansion of the MED program for women at risk to the poor areas of Eastern Slovakia, under the terms of the EQUAL program; Continued expansion (within Slovakia and internationally) of Market Access strategies, with a special focus on developing the fair-trade retail and wholesale channels and providing finance for the fair-trade supply chains (see www.tensenses.sk); Expansion of the Social Venture Capital investment program, managed by Integra’s financial delivery partner, the Vernus Co-op. This program provides venture capital for larger SMEs, who have a commitment to an integrated CSR strategy within their business model; Integra Foundation, will continue to develop its ODA program, delivering both MED fieldwork development in Slovakia and technical assistance and training for other NGOs and development initiatives abroad (as part of the international development strategies of the Slovak government, European Commission and other partners, with a focus on Africa and the Balkans). INTEGRA-FUTURE started operations in July 2000. Its goal is to lay a foundation of integrity for the business world in

• Bulgaria. We work mainly with small and medium sized enterprises. We believe that this sector is crucial not only for the

economy of our country, but also for the development of our society. At present, we are working with clients in various parts of the country. In order to help them develop successful businesses we provide business counseling, mentoring and loans. In Bulgaria, Integra-Future is working in very close cooperation with the Minnesota Coalition for Eastern Europe. Through the "Introduction to Small Business Dynamics" course small business entrepreneurs are introduced to basic business skills, including: marketing; business planning; and bookkeeping. We have presented this course in seven different cities thus far. Another part of the work of Integra Future is a new project, which was started in January 2001. It is aiming at helping

• rphan children to socialize and integrate into the society. Our goal with this ambitious project is to help these young people

develop some basic business and social skills. We also plan to start some small businesses with them as employees. By having them as employees of these businesses, we hope to teach them how to be self-supporting.

16

MFC - Microfinance Centre for Central and Eastern Europe (CEE)

and the New Independent States (NIS) (Poland)

The Microfinance Centre (MFC) for Central and Eastern Europe (CEE) and the New Independent States (NIS) began

• perations in 1997 as a regional network of twenty–one organizations providing services to its members who were primarily

microfinance institutions throughout the region. During the period of less than seven years, the MFC:  built a core professional staff,  has more than tripled its network membership and now operates as a network of 85 microfinance institutions,  created an operationally sustainable training and consulting unit,  built significant research capacity and  developed programs and activities facilitating positive change in the legal and regulatory environment for microfinance in various countries of the region. The Micro finance Centre for Central and Eastern Europe and the New Independent States (MFC) is the leading membership-based micro finance resource centre in CEE and the NIS. Its mission is to promote the development of a strong and sustainable micro finance sector in order to increase access to financial services for low-income people, particularly micro-entrepreneurs. The MFC fulfils this mission by providing high quality training, consulting, research, mutual learning and legal and policy development services. Currently, MFC serves and facilitates microfinance-sector development in 26 countries of the CEE/NIS by addressing 3 areas of relevance to the microfinance sector:  know-how (Training and Consulting Unit and Networking),  research (Research Unit)  policy change (Legal and Regulatory Programme). MFC works on several projects at a time, developed, on average, over a period of one to two years. The staff of the MFC currently consists of 18 professionals based in Poland, Russia, Ukraine and Serbia. The cadre of trainers equals to 24 highly specialised microfinance practitioners. MFC collaborates with other microfinance think-tanks and research institutes to successfully develop tools and approaches enabling increased access to financial services for low-income people. Since January 2004 MFC has two strategic partners: CGAP - dissemination of knowledge and the MIX – development

• f industry standards and promotion of transparency. MFC also closely cooperates with MicroSave (action-research and

training development), Microfinance Opportunities and Microinsurance Centre (research).

17

Rural Development Foundation

(Poland)

Rural Development Foundation is a non-governmental non-profit organisation delivering services and products to rural communities in Poland. The Foundation’s aim is to help build sustainable, healthy local economies with business and social

• pportunities for all.

In partnership with local government, community organisations, public agencies and other foundations, the Foundation offers a variety of programmes available throughout Poland. These programmes support and promote small and medium sized enterprises, infrastructure development, adult and youth education, renewable energy use, community leadership and initiatives, grass roots organisations, social values and local heritage. The Rural Development Foundation was established in 1999 as a result of the merger of two organizations, the Water Supply Foundation (founded in 1987 and one of the first foundations established in this part of Europe after WWII) and the Agricultural Foundation (founded in 1991). Since 1999 the Foundation has continued the work of its predecessors. Between 1987 and 2004 the Foundation made 6,057 loans and credits to business, local governments, public benefit agencies and individuals, for the total of USD 22,67 million. Numerous grants have also been made for projects such as libraries, re-established water systems post flooding. The Foundation has delivered over 1,131 training sessions. To date, the direct results of the Foundation work include:

• creation of 8,062 new jobs
• construction of water supply systems for 142,000 homesteads and sewage systems for 15,400 homesteads
• construction of more than 100 municipal sewage treatment plants and 2,787 on-site treatment facilities
• construction and reconstruction of more than 60 village schools
• connection of 173 small hydropower units to the national grid
• construction of 5 power windmills
• training delivered to 22,600
• implementation of youth programs in 37 gminas (smallest administrative unit) with more than 652 participants

In line with its mission to help Polish rural communities put their resources and potential to work for local community development, the Foundation is now implementing a micro-lending programme. The goal of the micro-loan programme is the reduction of unemployment in rural areas through financing small businesses set up by low income individuals as well as youth. The programme provides a combination of financial and technical assistance along with one-to-one counselling by trained business advisors.

18

WEETU (United Kingdom)

The Women's Employment, Enterprise & Training Unit (WEETU) was set up as an independent voluntary agency in 1987 in Norwich, UK and is a Company Limited by Guarantee (not-for-profit). WEETU supports women in Norfolk and Waveney with priority given to those women most disadvantaged - physically, economically, socially or educationally - with particular focus on women returners, disabled women, those on low incomes, single parents, ex offenders, those with mental health issues, those experiencing rural disadvantage and those with few or low level qualifications. It aims to help them to develop their economic prospects and to improve access to the local labour market through the provision of high quality employment and enterprise support services. WEETU provides a unique service primarily for women who are interested in improving their social and economic circumstances by accessing careers advice and guidance, writing a CV, improving their skills, workshadowing or setting up a business. The services are designed specifically to meet the needs of women and address the barriers they face. WEETU plays a significant role locally, regionally and nationally in terms of making the case to policymakers for support to women in the labour market, particularly those on low incomes or those who are socially disadvantaged. WEETU is well positioned to do this given the pioneering nature of its programmes, its track record, its demonstrable impact and the fact that it is one of the few organisations in the nation to target women only. WEETU works with key local partners to deliver a range of practical information, advice, guidance, training and financial support to over 2,000 women every year.

• STEPS (Steps Towards Employment and Practical Skills) - individual and group guidance;

personal development courses; CV advice; workshadowing opportunities; skills development courses including a dedicated programme targeted in North Norfolk through the Cromer Learning for Life (CL4L) project.

• FULL CIRCLE - a micro credit programme based on peer lending; access to business start

up advice; training; support circles and business loans. Dedicated programme in the New Deal for Communities area of Norwich and a programme targeted at encouraging childminders to set up a business.

• FULL CREDIT - The Full Circle programme is nationally recognised as a model of good practice and has recently

been licensed as Full Credit. To date, four licenses have been sold to regeneration partnerships in North Kent, Lewisham, Stevenage and the East Midlands Development Agency. This promotes this groundbreaking initiative more widely, broadens the impact of WEETU's activities beyond the immediate locality and raises the profile of WEETU nationally.

19

List of Participants

A

M Attila ANTAL BACSO National Agency for Unemployment (ANOFM) Head of Department Sfantu Dumitru, nŠ3 030077 Bucharest - Romania Tel : 00 40 21 303 98 40 Fax : 00 40 21 303 98 42 e-mail address: attila.antal@anofm.ro web-site: www.anofm.ro Ms Elena APOSTOL National Agency for Unemployment (ANOFM) Head of Department Sfantu Dumitru, nŠ3 030077 Bucharest - Romania Tel : 00 40 21 303 98 40 Fax : 00 40 21 303 98 42 e-mail address: elena.apostol@anofm.ro web-site: www.anofm.ro

B

Ms Eleonora BUJUKLIEVA Integra-Bds Bulgaria Loan Officer in MED Programme 7 Parchevich str. Sofia - Bulgaria Tel : 00 359 2 980 27 68 e-mail address: lionorb@yahoo.com web-site: www.integra.sk

C

Ms Laure COUSSIRAT-COUSTERE Adie Network Director 4 Bd Poissonni‹re 75009 Paris - France Tel : 00 33 1 56 03 59 00 Fax: 00 33 1 56 03 59 59 e-mail address: l.coussiratcoustere@adie.org web-site: www.adie.org

D

Ms Janet DAVIES WEETU Chief Executive Sackville Place - 44/48 Magdalen Street NR3 1JU Norwich - United Kingdom Tel : 00 44 1603 767 367 Fax : 00 44 1603 216 399 e-mail address: j.davies@weetu.org web-site: www.weetu.org M Matthias DESCHRYVERE Fonds de Participation Economist Rue de Ligne, 1 1000 Brussels - Belgium Tel : 00 32 2 210 87 74 Fax : 00 32 2 210 87 79 e-mail address: deschryvere@fonds.org web-site: www.fonds.org Ms Beata DOBOVA Integra Foundation Loan Officer Partizanska, 6 811 03 Bratislava - Slovakia Tel : 00 421 2 5441 8829 Fax : 00 421 2 5441 8831 e-mail address: beata.dobova@integra.sk web-site: www.integra.sk

F

Ms Maria FRANCO EMN Manager of Network Relations 4 Bd Poissonni‹re 75009 Paris - France Tel : 00 33 1 56 03 59 68 Fax : 00 33 1 56 03 59 77 e-mail address : m.franco@european-microfinance.org web-site: www.european-microfinance.org

20

G

M GrzŒgorz GALUSEK MFC Executive Director

• Ul. Koszykowa 60/62 m. 52

00-544 Warsaw – Poland Tel: 00 48 22 622 34 65 Fax: 00 48 22 622 34 85 e-mail: grzegorz@mfc.org.pl web-site: www.mfc.org.pl Ms Laurence GIRARD Adie 4 Bd Poissonni‹re 75009 Paris - France Tel : 00 33 1 56 03 59 00 Fax : 00 33 1 56 03 59 59 e-mail address : l.girard@adie.org web-site: www.adie.org M Albert GUASCH HURIOS Ayuntamiento de Mollet del Vall‚s – EMFO TŒcnico de Econom•a Social C/ Berenguer, 105 – 3Š 08100 Mollet Del Vall‹s (Barcelona) – Spain Tel: 00 34 93 570 51 60 Fax: 00 34 93 570 35 07 e-mail address: economiasocial@emfo.com web-site: www.emfo.com M Philippe GUICHANDUT EMN Executive Director 4 Bd Poissonni‹re 75009 Paris - France Tel : 00 33 1 56 03 59 70 Fax : 00 33 1 56 03 59 77 e-mail address : p.guichandut@european-microfinance.org web-site: www.european-microfinance.org Ms Miriam GUZY EMN Training and Programme Manager 4 Bd Poissonni‹re 75009 Paris - France Tel : 00 33 1 56 03 59 68 Fax : 00 33 1 56 03 59 77 e-mail address : m.guzy@european-microfinance.org web-site: www.european-microfinance.org

H

M David HEUER Evers & Jung GbR Assistant

• Deichstr. 29

20459 Hamburg - Germany Tel : 00 49 40 320 828 93 Fax : 00 49 40 320 828 90 e-mail address : david.heuer@eversjung.de web-site: www.eversjung.de

K

Ms Anna KOSIDLO Rural Development Foundation Microlending Specialist Bellottiego, 1 str 01-022 Warsaw – Poland Tel : 00 48 22 636 25 75 Fax : 00 48 22 636 62 70 e-mail address: akosidlo@fww.org.pl web-site: www.fww.org.pl

M

M Pierre MATHEUS Adie 2 Avenue Leclerc 69007 Lyon - France Tel : 00 33 4 78 61 65 45 Fax : 00 33 1 78 61 65 55 e-mail address : p.matheus@adie.org web-site: www.adie.org M Altin MUCA Besa Foundation Marketing Director

• Rr. Sulejman Delvina
• Pall. I ri prane – Stadiumit Dinamo

Tirane – Albania Tel: 00 355 4 253 841 Fax: 00 355 4 253 836 e-mail address: mfi@besa.org.al web-site: www.besa.org.al

21

M Bajram MUCAJ Besa Foundation Executive Director

• Rr. Sulejman Delvina
• Pall. I ri prane – Stadiumit Dinamo

Tirane – Albania Tel: 00 355 4 253 841 Fax: 00 355 4 253 836 e-mail address: mfi@besa.org.al web-site: www.besa.org.al Ms Isabel OLIVARES PONCE Ayuntamiento de Cerdanyola – Fundaci• Un Sol M•n TŒcnica Media de Autoempresa

• Av. Roma s/n

08290 Cerdanyola (Barcelona) - Spain Tel : 00 34 93 691 90 67 Fax : 00 34 93 594 70 50 e-mail address : canceba@cerdanyola.org web-site: www.cerdanyola.org

P

Ms Lorena Melania PAZMIƒO Asociaci•n SURT – Fundaci• Un Sol M•n Coordinadora de MC y Asesora de Autoocupacion C/ Guardia, 14 Bajos 08001 Barcelona - Spain Tel : 00 34 93 342 83 80 e-mail address : lorena@surt.org web-site: www.surt.org

R

Ms Anna RAJSKA Integra Foundation Project Manager Partizanska, 6 811 03 Bratislava - Slovakia Tel : 00 421 2 5441 8829 Fax : 00 421 2 5441 8831 e-mail address : anna.rajska@integra.sk web-site: www.integra.sk

S

Ms Claudia SANGUINETTI Fundaci• Un Sol M•n Consultant Associated La Pedrera - ProvenŽa, 261 3Š 08008 Barcelona – Spain Tel: 00 34 93 484 53 65 Fax: 00 34 93 484 53 94 e-mail address: claudiasanguinetti@gmail.com web-site: www.unsolmon.org M Mikolaj STEPPA Rural Development Foundation Board Member Bellottiego, 1 str 01-022 Warsaw - Poland Tel : 00 48 22 636 25 75 Fax : 00 48 22 636 62 70 e-mail address : mtsteppa@fww.org.pl web-site: www.fww.org.pl

V

Ms Marie Claire VIELFAURE Adie 4 Bd Poissonni‹re 75009 Paris - France Tel : 00 33 1 56 03 59 00 Fax : 00 33 1 56 03 59 59 e-mail address : mc.vielfaure@adie.org web-site: www.adie.org

22

Finnvera’s Offices and Hotel’s location

Helsinki

 Finnvera’s office

Finnvera Oyj Helsingin aluekonttori (Helsinki) Etel•esplanadi 8 PL 249 00101 Helsinki Tel: +358 (0) 204 6011 Fax: +358 (0) 20 460 3401 Website: www.finnvera.fi Uudenmaan aluekonttori (Uusimaa) Etel•esplanadi 8 PL 1010 00101 Helsinki Tel: +358 (0) 204 6011 Fax: +358 (0) 20 460 7110

 Hotels

Eurohostel Helsinki Linnankatu, 9 00160 Helsinki Tel: +358 – 9 6220 470 Fax: +358 – 9 655 044 Mail: eurohostel@eurohostel.fi Website: www.eurohostel.fi Hotel Finnapartments Fenno Helsinki Kaarlenkatu, 7 00530 Helsinki Tel: +358 – 9 774 980 Fax: +358 – 9 701 6889 Mail: reception@hotelfenno.fi Website: www.hotelfenno.fi

Tampere

 Finnvera’s office  Hotel

Tampereen aluekonttori H•meentie 9 PL 559 33101 Tampere Hotel Kauppi Kalevan Puistotie, 2 33500 Tampere Tel: +358 – 3 253 5353 Fax: +358 – 3 253 4611 Mail: kauppi@avainhotellit.fi Website: www.avainhotellit.fi/kauppi.htm

Pori

 Finnvera’s office  Hotel

Porin aluekonttori Valtakatu 6 28100 Pori Hotel Amado Keskusaukio, 2 28130 Pori Tel: +358 – 2 6310 100 Fax: +358 – 2 6338 175 Mail: amado@amado.fi Website: www.amado.fi

23

Oulu

 Finnvera’s office  Hotel

Oulun aluekonttori Asemakatu 37 90100 Oulu Best Western Hotel Apollo Terhi Rekil• – Vastaanottovirkailija Asemakatu, 31-33 90100 Oulu Tel: +358 – 8 522 11 Fax: +358 – 8 373 060 Mail: hotel@apollo.inet.fi Website : www.bestwestern.fi

Kuopio

 Finnvera’s office  Hotel

Kuopion aluekonttori Haapaniemenkatu, 40 PL 1127 70111 Kuopio Best Western Hotel Atlas Haapaniemenkatu, 22 70110 Kuopio Tel: +358 – 17 211 2111 Fax: +358 – 17 2112 103 Mail: myynti@hotelliatlas.com Website: www.hotelliatlas.com

Jyv„skyl„

 Finnvera’s office  Hotel

Jyv„skyl„n aluekonttori Sep•nkatu 4 40100 Jyv•skyl• Hotel Milton Hannikaisenkatu, 29 40100 Jyv•skyl• Tel: +358 – 14 3377 900 Fax: +358 – 14 631 927 Mail: hotelli.milton@kolumbus.fi Websie: www.hotellimilton.com

Sein„joki

 Finnvera’s office  Hotel

Sein„joen aluekonttori Kauppatori 1-3 60100 Sein•joki Hotel Cumulus Sein„joki Kauppakatu, 10 60100 Sein•joki Tel: +358 – 6 418 6111 Fax: +358 – 6 418 6299 Mail: seinajoki.cumulus@restel.fi Website: www.cumulus.fi

24

Local transportation timetable

Leave from Helsinki: 28/9/2005 and Return to Helsinki: 30/9/2005

 Helsinki/Oulu: group 1 - Plane Terminal 1 28/9 > departure: 14:50 arrival: 16:00 30/9 > departure: 15:10 arrival: 16:15  Helsinki/Pori: group 4 – Plane Terminal 1 28/9 > departure: 13:40 arrival: 14:25 30/9 > departure: 14:40 arrival: 15:30  Helsinki/Jyv„skyl„: group 2 – Plane Terminal 1 28/9 > departure: 13:20 arrival: 14:10 30/9 > departure: 12:00 arrival: 12:50  Helsinki/Kuopio: group 7 – Plane Terminal 1 28/9 > departure: 15:00 arrival: 15:55 30/9 > departure: 16:20 arrival: 17:10  Helsinki/Tampere: group 3 – Train InterCity 28/9 > departure: 13:04 arrival: 14:52 30/9 > departure: 13:07 arrival: 14:56  Helsinki/Sein„joki: group 8 – Plane Terminal 1 28/9 > departure: 13:20 arrival: 14:10 30/9 > departure: 14:30 arrival: 15:30

Groups

Groups Title Name Surname Organisation Country Host Office Group 1 Ms Marie Claire VIELFAURE Adie France Oulu Ms Maria FRANCO EMN France Oulu Ms Lorena PAZMI•O Asociacion SURT Spain Oulu Ms Isabel OLIVARES PONCE Ayuntamiento de Cerdanyola Spain Oulu Group 2 M David HEUER Evers & Jung GbR Germany Jyv„skyl„ M Philippe GUICHANDUT EMN France Jyv„skyl„ Ms Laure COUSSIRAT COUSTERE Adie France Jyv„skyl„ Group 3 Ms Janet DAVIES WEETU UK Tampere Ms Beata DOBOVA Integra Foundation Slovakia Tampere Ms Elena APOSTOL ANOFM Romania Tampere Group 4 Ms Anna RAJSKA Integra Foundation Slovakia Pori Ms Claudia SANGUINETTI Fundacio Un Sol Mon Spain Pori Ms Laurence GIRARD Adie France Pori Group 5 M Matthias DESCHRYVERE Fonds de Participation Belgium Helsinki M Attila ANTAL BACSO ANOFM Romania Helsinki Group 6 Ms Anna KOSIDLO Rural Development Foundation Poland Uusimaa M Mikolaj STEPPA Rural Development Foundation Poland Uusimaa M Bajram MUCAJ BESA Foundation Albania Uusimaa M Altin MUCA BESA Foundation Albania Uusimaa Group 7 Ms Miriam GUZY EMN France Kuopio Ms Eleonora BUJUKLIEVA Integra - BDS Bulgaria Bulgaria Kuopio Group 8 M Pierre MATHEUS Adie France Sein„joki M Albert GUASCH HURIOS Ayuntamiento de Mollet del Vall‹s Spain Sein„joki M Grzegorz GALUSEK MFC Poland Sein„joki

25

Annexes

Location Maps

Helsinki

Click on the map to start the search of your chosen location within Helsinki

Oulu

In Oulu, Finnvera’s office and the hotel are located in the same street

26

Jyv„skyl„ (click on the main map to start your research

Finnver’as Office Hotel location

Tampere (click on the main map to start your research)

Finnver’as Office Hotel location

27

Pori (click on the main map to start your research)

Finnver’as Office Hotel location

Kuopio (click on the main map to start your research)

In Oulu, Finnvera’s office and the hotel are located in the same street

28

Sein„joki (click on the main map to start your research)

Finnver’as Office Hotel location

29