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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
    Download now

    News & Stories

    General enquiries and comments

    The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
    Alternatively, the EIB can be contacted through its external offices.
    Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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    Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

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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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