We advised the European Investment Bank (EIB) on the EUR 20 million framework loan to the Municipality of Tartu

The city government of Tartu and the European Investment Bank (EIB) signed a 20 million euro framework loan agreement that will support the city's development plan and investments into education.
Through this financing, the EIB expresses its support for small to medium-sized education investments, and small-size municipal infrastructure schemes in Tartu. The investments are also expected to support local "smart city" and energy efficiency targets.
Tartu Mayor Urmas Klaas said the European Investment Bank's funding will help to advance the city's school renovation program.
The loan to be given to Tartu will be the first EIB loan for an Estonian municipality outside Tallinn.
The Ellex Raidla’s team, who acted as an outside counsel to the European Investment Bank (EIB), consisted of Partner Ermo Kosk and Counsel Toomas Kasesalu.