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Signature(s)

Amount
€ 100,000,000
Countries
Sector(s)
Estonia : € 100,000,000
Urban development : € 100,000,000
Signature date(s)
23/12/2021 : € 100,000,000
Link to source

Summary sheet

Release date
29 October 2021
Status
Reference
Signed | 23/12/2021
20210479
Project name
Promoter - financial intermediary
TALLINN SUSTAINABLE INFRASTRUCTURE
CITY OF TALLINN
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 100 million
EUR 210 million
Location
Sector(s)
Description
Objectives

The project is a multi-sector framework loan operation to finance the multi-year investment programme of the City of Tallin.

The proposed municipal framework loan will support eligible schemes coherent with the City of Tallinn development strategy. It will contribute to the modernisation of municipal public infrastructure and services.

Additionality and Impact

The Operation contributes to several Sustainable Development Goals and to EU and EIB policies objectives. The Operation contributes 100% to the Cohesion objective and to the objectives of the Regional Operational Programme for Tallinn (2021-2027). It supports the implementation of the City's Tallinn 2035 Development Strategy, as well as the implementation of several sector plans and strategies. The project addresses market failures and economic, energy and mobility externalities, as well as social inclusion, environment and climate externalities. All investments under this framework loan are collectively expected to provide good socio-economic benefits. The Municipality is known to the Bank and is experienced in the preparation and delivery of such investments. Their capacity to implement the proposed investment programme is considered good. EIB's advice and financial contribution has a positive impact on the technical quality and implementation of the project.

 

The EIB loan will have significant value-added for Tallinn due to: (i) its flexibility, (ii) tenor that matches the economic life of the assets financed, (iii) grace and availability periods that fit the City's expectations and needs, and (iv) attractive pricing. The financing will also strengthen the funding base of the City.

Environmental aspects
Procurement

The Bank will generally allocate its funds only to eligible schemes which are environmentally sound. All schemes must comply with EU environmental legislation as well as comply with the principles and standards of the Bank's Environmental Policy Statement.

The Promoter is subject to the public procurement regime. The Bank will require the Promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation: Directive 2014/23/EU / 2014/24/EU or 2014/25/EU, where applicable, as well as Directive 92/13/EEC or Directive 89/665/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.

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) - TALLINN SUSTAINABLE INFRASTRUCTURE
Publication Date
18 Dec 2021
Document language
Main Topic
Lending
Document Number
150466341
Document Focus
Environmental Information
Project Number
20210479
Sector(s)
Regions
Countries
Publicly available
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The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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