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    Reference: 20150176
    Release date: 11 October 2016

    Promoter – Financial Intermediary




    The project concerns the financing of multi-sectoral investment schemes forming part of the municipality's investment programme.


    The project concerns the financing of multi-sectoral investment schemes forming part of the municipality's three-year investment programme from 2016 to 2019. The project is expected to comprise small to medium-sized schemes in the fields of municipal infrastructure, mobility measures, education and sport, social and health infrastructure and cultural heritage and will benefit the city of Tallinn. The city's long-term investment strategy for 2016-2018 aims to modernise the city's basic infrastructure and improving the quality of public services. The plan includes several components - public transport, street refurbishment, school upgrading, renovation of social and health infrastructure and cultural heritage, reconstruction of social facilities - to be implemented over the next three years. The investment programme is a coherent and target-based development plan including investments in domains where Tallinn, as a local government, has financial and planning responsibility.


    Proposed EIB finance (Approximate amount)

    EUR 100 million

    Total cost (Approximate amount)

    EUR 360 million

    Environmental aspects

    Estonia, as an EU Member State, has harmonised its environmental legislation in line with the relevant EU Directives 2011/92/EU and 2001/42/EC. The Bank's appraisal will focus on the promoter's environmental management capacity to properly apply the Strategic Environmental Assessment (SEA) Directive 2001/42/EC, the Environmental Impact Assessment (EIA) Directive 2011/92/EU as amended, as well as the requirements of the Habitats and Birds Directives where appropriate. Compliance with the EU Directive on the Energy Performance of Buildings (EU Directive 2002/91/EC) and its recast (2010/31/EU) will be further examined during appraisal. All relevant key documents for the project will be published, in line with the Bank's disclosure policy.


    The Bank will require the promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Directives 2004/18/EC, or 2014/24/EU where applicable, and/or 2004/17/EC, or 2014/25/EU where applicable, and/or 2014/23/EU where applicable, as well as Directives 89/665/EEC and 92/13/EEC), as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.


    Signed - 19/05/2017


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

    Related tags

    Estonia Urban development