The Estonian government at its Thursday meeting decided to increase the share capital of Rail Baltic Estonia with an instalment of €650,000.
Outgoing Minister of Economic Affairs and Infrastructure Kadri Simson (Centre) submitted a proposal to the government to increase the share capital of OÜ Rail Baltica. The government approved the item on the agenda, spokespeople for the government said.
Through the private limited company, an instalment of €650,000 will be made to the joint Estonian-Latvian-Lithuanian venture RB Rail AS. The instalments are needed for the company's operational expenditure and for co-financing the activities to be carried out with the support of the Connecting Europe Facility (CEF).
Rail Baltic Estonia is an enterprise within the administrative domain of the Ministry of Economic Affairs and Communications which was founded in 2014 in order to represent Estonia's interests in RB Rail, and for realising the project as well as fulfilling administrative and technical tasks in Estonia.
The instalments will be paid into the joint venture according to a trilateral financing agreement entered into in 2019.
Editor: Aili Vahtla