28 May 2014

NIB provides loan to Tallinn water utility

NIB and AS Tallinna Vesi, the water utility of Estonia’s capital city Tallinn, have signed a ten-year loan agreement totalling EUR 20 million, for the upgrade of the fresh water distribution network and the wastewater network.

The investment programme is scheduled until 2017 and aimed at reducing the risk of emergencies and leakages and improving the supply of fresh water. The company is set to renovate pipes for both the fresh water supply and wastewater effluent. It will also include repair works at major sewage pumping stations and the sludge treatment facilities.

AS Tallinna Vesi is the water utility of Tallinn. The company was privatised in 2001, and United Utilities (Tallinn) BV is its largest shareholder. The company owns the water and wastewater treatment plants as well as the supply and sewerage networks.

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.

For further information, please contact
Mr Vilius Girkontas, Senior Manager Origination, at +358 10 618 0240,

Mr Dimitrijs Alehins, Senior Communications Specialist, at +358 10 618 0296,