Tallinn to receive €100m “sprucing up loan” from European Investment Bank

One of the priorities of the loan will be to improve public squares such the Raekoja Plats (kallerna/CC BY-SA 3.0)
The capital of Estonia has been awarded a €100m loan from the European Investment Bank (EIB) to upgrade its infrastructure.

The authorities in Tallinn intend to use the loan to fund a wide range of projects, covering the upgrading of public buildings and public spaces, urban mobility and “municipal infrastructure”.

The city was named European Green Capital for 2023, so it will promote sustainable solutions to its problems.

Mihhail Kõlvart, the mayor of Tallinn, commented in a press statement: “I am glad that Tallinn has the opportunity to work with the EIB to improve our urban infrastructure. The EIB has helped Tallinn many times in the past, for example in 2017. This has given us the opportunity to invest in infrastructure and sustainable solutions, and to improve the lives of our citizens.”

Among the urban infrastructures to be improved are the city’s schools, technical colleges and social housing. The sustainable mobility heading will include upgraded bike paths and pedestrianisation.

Another priority will be to upgrade public squares and parks around the city, as well as street lighting, waste centres, and water and sewage networks.

Thomas Östros, an EIB vice-president, said: “The future of cities has to be sustainable, and the EIB has really appreciated Tallinn’s approach to renew and develop its urban infrastructure. More energy-efficient buildings, more space for bicycles and better public spaces are definitely in line with what we should be financing.”

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