Estonia, EU – Baltic States, Financial Services, Investments, Loan

It will be used to support investments promoting research and innovation, improving transport connections, education reform and development of small and medium-sized businesses, announced the Ministry of Finance spokesman Ott Heinapuu. The EIB also supports education, health care and job training, and employment sectors. The loan concluded with the EIB will help Estonia to adopt the European Union structural funds means in the next six years.

The 200 million loan is used only for projects that receive approval in the 2014-2020 budgetary period in the framework of the cohesion policy funds' implementation plan and rural development program.

The European Investment Bank (EIB) is a long-term lending institution that belongs to the European Union Member States. The bank provides long-term funding for strong investment projects, which will help to achieve the policy objectives of the European Union. From 2009-2013, EIB granted loans in Estonia for a total of 1.37 billion euros.

Among this, the Estonian state has taken from EIB 550 million in loans to co-finance the 2007-2013 period projects, which will be paid back to the EIB by 2025.