Business Finland granted nearly one billion euros in funding for over 20,150 projects due to the disruption caused by the coronavirus epidemic. (Vesa Moilanen – Lehtikuva)


BUSINESS FINLAND will recover funding disbursed due to the disruption caused by the coronavirus epidemic from over 200 companies, reports Talouselämä.

The Finnish business-oriented newspaper wrote last week that the total amount recovered will be around 200 million euros, with the average for development projects standing at over 21,000 euros and that for preliminary assessments at 4,500 euros.

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The funding must be recovered if the reported costs include items that could not be funded under the government decree on development projects and the terms and conditions of the disruption funding, according to Business Finland. The process is initiated also if the recipient neglects to report on the development project.

All funding recipients are required to submit a final report to the public funding organisation within four months of the project ending.

Media outlets have highlighted previously that in many cases the funding may not have been misappropriated deliberately but rather due to lack of experience with applying for funding.

Aleksi Teivainen – HT