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Signature(s)

Amount
€ 700,000,000
Countries
Sector(s)
Estonia : € 700,000,000
Energy : € 7,000,000
Industry : € 7,000,000
Solid waste : € 14,000,000
Telecom : € 35,000,000
Education : € 70,000,000
Transport : € 119,000,000
Composite infrastructure : € 119,000,000
Health : € 140,000,000
Services : € 189,000,000
Signature date(s)
22/06/2023 : € 3,000,000
22/06/2023 : € 3,000,000
11/04/2024 : € 4,000,000
11/04/2024 : € 4,000,000
22/06/2023 : € 6,000,000
11/04/2024 : € 8,000,000
22/06/2023 : € 15,000,000
11/04/2024 : € 20,000,000
22/06/2023 : € 30,000,000
11/04/2024 : € 40,000,000
22/06/2023 : € 51,000,000
22/06/2023 : € 51,000,000
22/06/2023 : € 60,000,000
11/04/2024 : € 68,000,000
11/04/2024 : € 68,000,000
11/04/2024 : € 80,000,000
22/06/2023 : € 81,000,000
11/04/2024 : € 108,000,000
Link to source

Summary sheet

Release date
6 July 2023
Status
Reference
Signed | 22/06/2023
20220166
Project name
Promoter - financial intermediary
EU FUNDS CO-FINANCING 2021-2027 (EST)
REPUBLIC OF ESTONIA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 700 million
EUR 5775 million
Location
Sector(s)
Description
Objectives

The EIB will co-finance, along with EU funds, priority investments under the Republic of Estonia's Operational Programme in the programming period 2021-2027. As a small element of the project, the EIB may co-finance complementary investments under the Estonian Recovery and Resilience Plan, if such co-financing is required.

The aim is to co-financing priority investments part of the Republic of Estonia's Operational Programme, and some elements of the Recovery and Resilience Plan.

Additionality and Impact

The Project mainly concerns priority investments of the operational programme of the EU Cohesion Policy funds of Estonia, a designated EC Transition Region. The investment programme is plan-led and well-embedded in the EU Cohesion policy architecture centering around the five policy goals of a smarter, a greener, a more connected, a more social Europe and a Europe closer to citizens.

 

Specifically, the Project will support research, development and innovation activities whose returns to society are known to be larger than the financial return to the investor. It will also support investments in energy efficiency thereby lowering the negative externalities from CO2 emissions. The Project will also support education, health, training, lifelong learning and skills development, which will increase the economy's stock of human and social capital, reduce shortages of skilled labour and protect vulnerable persons from sliding into long-term unemployment.

 

The EIB financing on favourable terms, such as long tenors and flexible drawdown conditions, provides diversification of the financing structure and contributes to the affordability of the national public investment programmes. EIB support to the region's co-financing share in the EU funds investments will help kick-start/accelerate the implementation of sub-projects on the ground. 

 

The Project fosters a balanced socioeconomic and territorial development of Estonia, in line with the Territorial Agenda 2030. It will therefore contribute to the EU's policy objective of economic and social cohesion. The Project addresses sub-optimal investment situations in many sectors, increasing endowment with vital infrastructure essential to social and economic cohesion.

Environmental aspects
Procurement

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Milestone
Under appraisal
Approved
Signed
17 November 2022
22 June 2023
Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Data Sheet (ESDS) - EU FUNDS CO-FINANCING 2021-2027 (EST)
Publication Date
13 Jul 2023
Document language
Main Topic
Lending
Document Number
159244512
Document Focus
Environmental Information
Project Number
20220166
Regions
Countries
Publicly available
Download now

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