17 Sep 2020
EUR 24.77 million
Financial institutions and SMEs
NIB and the Estonian water utility company Tallinna Vesi AS have signed a 15-year loan agreement of EUR 37.5 million to improve freshwater supply and wastewater management infrastructure in Tallinn.
The investment programme aims to secure access to good quality drinking water and ensure efficient wastewater treatment that meet the challenges of climate change and population growth.
Renewing the water distribution network will help to maintain the quality of fresh water supply while reducing operational costs. After the implementation of the investment program, the daily water production capacity will increase.
The investments in wastewater management will increase the treatment capacity at the Paljassaare wastewater treatment plant. This will prevent sewers overflowing during heavy rainfall or snowmelt periods, thus decreasing discharges of untreated wastewater into the Baltic Sea.
The programme is scheduled to be implemented during the period 2020–2024.
AS Tallinna Vesi is the water utility of Tallinn. The company operates the city’s water and wastewater treatment plants as well as its supply and sewerage networks. It provides drinking water and wastewater disposal services to approximately 460,000 people in the Estonian capital, as well as to neighbouring municipalities.
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.
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