How Estonia ranks within EU countries
Total investment
March 2022
- Total financing under the European Fund for Strategic Investments (EFSI) in Estonia amounts to €256 million and is set to trigger about €2.8 billion in additional investments
Infrastructure and innovation projects
- 10 approved projects financed by the European Investment Bank (EIB) with EFSI backing
- approximately €203 million in total financing
- set to trigger €1.6 billion in total investment
Small and medium enterprises (SMEs)
- 9 approved agreements with intermediary banks or funds financed by European Investment Fund (EIF) with EFSI backing
- €53 million in total financing
- set to trigger approximately €1.2 billion in investments with some 10,943 SMEs and mid-cap companies expected to benefit from improved access to finance
Examples of projects supported by the Investment Plan in Estonia
Fast energy storage: SKELETON TECHNOLOGIES
The EIB is financing €15 million for research, development and innovation (RDI) at Europe's leading producer of ultracapacitors, a cutting edge emerging technology designed to store energy efficiently. The financing will allow Skeleton to grow the business, develop new products and create new jobs.
Airport upgrade: TALLINN AIRPORT
A €30 million EIB loan will enable Tallinn Airport to improve environmental and safety performance, alleviate current congestion and accommodate future growth in traffic. It includes the reconstruction of the existing runway, the extension of the passenger terminal and the renewal and upgrade of the airside lighting system.
Muhu Leib is a bakery on the island of Muhu which specialises in homemade, dark-rye bread. To grow the business, the owner took out a loan with Estonian intermediary KredEx to purchase new equipment and expand throughout the country. There are now 9 bakeries nationally employing 40 staff.
Full list of EFSI-backed projects approved by the EIB
Full list of EFSI-backed agreements with financial intermediaries signed by the EIF