Estonia overview

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In Estonia we focus on:

Supporting investments in energy efficiency and renewable energy. Supporting energy efficiency investments particularly in industrial companies as well as investments in renewable energy generation continue to be the EBRDs key priorities in Estonia.

Improving the competitiveness of the export sector. To assist in improving exporting enterprises competitiveness through increased usage of advanced technology and to invest in equity and mezzanine funds in order to facilitate further development of the SME sector.

Supporting cross-border investments by Estonian companies, particularly in the EBRD’s region of operations, to enable Estonian firms to establish a foothold in foreign markets and benefit from efficiencies that access to larger markets would bring.

Estonia is a supporter of the Eastern Europe Energy Efficiency and Environment Partnership Fund and has contributed €602.000 to date in activities in Belarus, Ukraine, Georgia and Moldova.

The EBRD’s latest strategy for Estonia was adopted on 15 September 2021

Estonia's policy response to the coronavirus crisis

The EBRD is monitoring Estonia's policy response to the coronavirus pandemic. Our biweekly publication identifies the major channels of disruption as well as selected impact and response indicators.

Learn more

Current EBRD forecast for Estonia’s real GDP growth in 2021 9.0%

Current EBRD forecast for Estonia’s real GDP growth in 2022 4.0%

The pace of economic recovery accelerated sharply in Estonia in the first half of 2021, with a GDP growth rate of 8.5 per cent, year-on-year. Domestic demand improved sharply, with investment registering an impressive growth rate of almost 57 per cent, year-on-year, mostly driven by Volkswagen’s software investment, which is scheduled for 2021-2023. At the same time, the positive impact on GDP growth is largely negated by increased imports (negative net effect on GDP), but this investment creates upside potential for growth in the long term.

Estonia in the EBRD’s 2021-22 Transition Report


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