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Country data

1.3 million
45,000 sq km

Key developments and challenges

  • Economic growth slowed considerably in 2012, and further in the first half of 2013. Estonia was among the fastest growing economies in the European Union (EU) last year, but weak external demand started weighing on growth.
  • The fiscal accounts are among the strongest in the EU. The fiscal deficit remained small and public debt is the lowest in the EU, providing a comfortable buffer against economic and revenue volatility.
  • Conditions in the labour market improved further as unemployment dropped to 8 per cent in June. The government seeks to address skills mismatches and issues confronting low wage earners.

Estonia in the 2013 Transition Report

Estonia skyline

Our work in Estonia

In Estonia we support financial institutions to ensure continued credit to SMEs and the corporate sector.


Key facts about the EBRD's work in Estonia

No. of projects


Net EBRD investment

€559 million

Gross disbursements

€527 million

Portfolio in private sector



Last updated 30 June 2014

View factsheet

Our strategy in Estonia

In Estonia the EBRD aims to foster commercial banks’ continued lending to the corporate sector, particularly to SMEs, and to provide higher-risk products such as equity for local corporations to fund their growth and improvements in competitiveness. The Bank will support municipalities, where appropriate, through public-private partnerships and through financial institutions to ensure commercial co-financing for EU funded projects. And it will facilitate investments in the diversification of energy supply, in energy efficiency and renewable energy.

Read strategy


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