News
28 February 2020
EBRD helps finance regeneration of Tallinn port district
In:
Social infrastructure
Region:
Europe
The European Bank for Reconstruction and Development and Luminor Bank are providing financing worth €102 million to fund the regeneration of Tallinn port area in Estonia.
The EBRD is providing up to €63 million and Luminor up to €39 million for an integrated retail, office and hotel project on the site of the former military shipyard in the city’s port, a key component of the wider regeneration of the district.
The project is developed by Porto Franco OÜ, the borrower, a limited liability company incorporated in Estonia. For the EBRD it will also serve as a vehicle for a sector-wide engagement in the city of Tallinn. The development will cover approximately 150,000 square metres.
