MuniFin is the funding institution of the Finnish public sector – borrowing in the international bond markets, for the needs of municipalities and public housing companies in Finland.
”All of these are usually highly oversubscribed,” says Antti Kontio.
“We got a downward shift of the whole interest rate curve.”
One of the advantages is that light is put on key social challenges in the country. Increasing inequalities and social exclusion is among them. The social bond framework is drafted in accordance with ICMA SBP. It involves a social evaluation team. The funding targets are categorised under social housing, welfare or education.