Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

01 Jul 1997



PSD disclosed:

21 May 1997


Project Description

The project is a secured housing finance facility of DM 12 million, with a ten-year maturity. The facility will be for on-lending to individuals for residential mortgages.

Objectives are to: (i) support Eesti Uhispank's strategy to develop its retail business; (ii) encourage competition in the Estonian banking market; (iii) encourage home ownership and support the construction industry.

Transition Impact

The project will have a positive impact on the transition by enabling an Estonian bank to offer clients long-term resources for which funding is not available in the local market and by supporting the development of the private construction industry.

The Client

Eesti Uhispank (Union Bank of Estonia) is the second-largest bank in Estonia in terms of assets. It is listed on the stock exchanges of Tallinn, Helsinki and Munich, and its shares are widely held. Its headquarters are in Tallinn, and it has over 70 branches in Estonia. The bank has recently merged with Pohja-Eesti Pank (North Estonian Bank).

EBRD Finance

The EBRD is providing a secured housing finance facility of DM 12 million (ECU 6.15 million) with a ten-year term. The facility will be used to on-lend to individuals for the purchase of primary residences in Estonia.

Project Cost

DM 12 million (ECU 6.15 million).

Environmental Impact

Eesti Uhispank carries out its operations in accordance with the EBRD's Environmental Procedures for Local Banks, which provide for the integration of environmental due diligence in the bank's credit appraisal process and a requirement that borrowers comply with local/national health, safety, environmental and public consultation requirements.

Technical Cooperation


Company Contact


Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

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