EIB lends EUR 25 million to AS Tallink Grupp for the acquisition of a new ferry

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The European Investment Bank (EIB) is stepping up its support in Estonia by providing EUR 25 million in support of investment in maritime transport. A finance contract with AS Tallink Grupp has been signed today in Tallinn by Mr Philippe Maystadt, President of the EIB, who declared: “The diversification of our lending in Estonia into new products and new sectors demonstrates EIB’s desire to increase its support for and value-added in key sectors of Estonia’s economy.”

Mr. Andres Hunt, Vice Chairman of the Management Board of AS Tallink Grupp said: “It is highly appreciated that EIB has joined the bank syndicate in financing of our new M/S Baltic Princess which is a great support for the sector. It also shows the trust in our company and helps us to implement our fleet renewal strategy.”

The loan will finance the acquisition of a new ferry to be employed on its existing Tallinn-Helsinki route contributing to the development of the European internal market and to the promotion of short sea shipping. This is the first EIB loan granted under its Structured Finance Facility (SFF) in Estonia, and allows for risk-sharing as part of a syndicate of banks arranged by HSH Nordbank. The project will contribute to the Union’s convergence objective and is consistent with the Bank's transport/environmental lending policy, fostering the development of Motorways of the Sea/waterborne transport.

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