14 Dec 2020
EUR 56.10 million
Date of agreement: | 25 Mar 2020 |
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Country: | Estonia |
Customer: | Republic of Estonia |
Amount in EUR: | EUR 750 million |
Maturity: | 15 years |
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.