14 Dec 2020
EUR 56.10 million
|Date of agreement:||25 Mar 2020|
|Customer:||Republic of Estonia|
|Amount in EUR:||EUR 750 million|
NIB is providing a loan to the Republic of Estonia to finance a share of the additional funding needed to support the measures taken to curb the immediate impact of the coronavirus Covid-19 pandemic on the economy and society.
The Covid-19 mitigation loan will cover a part of the country’s increased expenditures, primarily:
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.
The purpose of the loan is to support the economy of a NIB member country and to alleviate the socio-economic consequences caused by the COVID-19 pandemic.
The use of funds will not finance projects listed in the Bank’s exclusion list or shale oil.