To date, EBRD has invested €630 million in 79 projects in Estonia
The European Bank for Reconstruction and Development (EBRD) has adopted a new country strategy for Estonia which will direct the Bank’s operations in the country over the next four years.
The document identifies the following strategic orientations:
- Strengthening energy efficiency and enhancing the resource-efficient use of local energy sources: Estonia remains one of the countries in Europe with the highest energy intensity. To improve the country’s energy balance the EBRD will seek to facilitate investments in energy efficiency and support investments in domestic resources to boost the enhanced, resource-efficient generation of local energy.
- Enhancing private sector competitiveness through innovation: For their expansion and innovation Estonian companies need better access to finance. The private equity and venture capital industries are in early stages of development and fragmented. The EBRD will seek to finance export-oriented companies and innovative producers of higher value-added goods and will support measures to increase the availability of financing for growing companies and cross-border expansion.
The EBRD has been investing in Estonia since the country regained its independence in 1991. To date, the Bank has invested €630 million in 79 projects in all sectors of the country’s economy with a special focus on energy efficiency and renewable energy, support for small and medium-sized enterprises and cross-border investments by local companies.
Estonia became a member of the European Union in 2004 and is one of the most advanced countries where the EBRD invests. However, longer-term challenges remain. The EBRD continues to be well-placed to play a role in overcoming these gaps through its investments and policy dialogue.