SECTION B
The central European shore of the Baltic Sea Region – competitiveness trends over the medium term
final lending volume will depend on the progress of the projects in the pipeline, the capacity of the countries to prepare new projects and, finally, the state of the economy in the Baltic Sea Region. The most difficult period of the crisis seems to have passed nonetheless, since most of the Baltic economies are rather export-oriented, the situation of the region cannot improve much if the development of global economic environment continues
EIB-financed projects from the Eastern Baltic Sea Region EU Funds Co-Financing 2007-2013 (LT), Lithuania The loan, amounting to EUR 1.321bn, supports the implementation of Lithuania’s 2007-2013 National Strategic Reference Framework (NSRF), through the co-financing of three Operational Programmes (OPs): (i) OP for the Development of Human Resources 2007-2013; (ii) OP for Economic Growth for 20072013; and (iii) OP for Promotion of Cohesion for 2007-2013. The loan also provides financial support for the completion by 2010 of six large water supply and wastewater treatment projects that are co-financed by the Cohesion Fund (2004-2006 programming period). The total project cost is estimated at EUR 9.564bn. Latvenergo CHP, Latvia The project involves the design, construction and commissioning of a second combined heat and power unit within the boundaries of the Riga Thermal Power Station no. 2 (TEC-2) power site located in Acone in the outskirts of Riga, the capital of Latvia. The project is the second stage of TEC-2 reconstruction project that was launched in 2005 with the purpose of replacing the old generating units of very low efficiency and extending the power capacity of the power site. The proposed co-generation plant uses state-of-the-art technologies and comprises a combined cycle unit with gas turbine (GT), heat recovery steam generator (HRSG) and steam turbine (ST) with an anticipated electric capacity of 400 MW electrical and heat capacity of 270 MW thermal for district heating. The loan amounts to EUR 100m out of a total estimated project cost of EUR 367m.
to be sluggish. The EIB will continue to deliver its expertise and financial instruments. However, there is also a proposal under development examining the potential launch of a BSS Trust Fund, which can provide TA in order to further enhance the implementation of co-financed projects in the Region as well as support the development of complex projects.
Estlink 2, TEN-E, Estonia The project concerns the implementation of a monopolar HVDC (high voltage direct current) link interconnecting Estonia (Püssi) and Finland (Anttila) across the Gulf of Finland. The proposed project will have rated capacity of 650 MW, terminal voltage of 450 kV and a total length of 165 km. The new link will increase the transmission capacity between the Baltic and the Nordic countries from 350 to 1000 MW and thereby improve diversification and security of supply, and enhance electricity market integration in the Baltic Region. The project has been designated as a flagship project of the EU Strategy for the Baltic Sea Region and as TEN-E priority project of European interest, and was granted a 100 MEUR Community financial assistance under the European Economic Recovery Programme. The project is currently under appraisal at the EIB and subject to approval by the EIB Board of Directors, the EIB loan to Elering OUE, the Estonian State-owned transmission system operator, would amount to up to EUR 75m out of a total estimated project cost of EUR 306m. This project is foreseen to be co-financed with the Nordic Investment Bank. National Environmental Protection Fund, Poland The Polish systems of drinking water supply and of waste water collection and treatment services require an important improvement in order to comply with EU standards. The EIB loan of PLN 500 m (approx. EUR 122 m) to the National Fund for Environmental Protection and Water Management will finance 15 water supply and wastewater collection infrastructure projects representing investments totaling EUR 426 million. All these projects have been already approved for financing by EU Structural Funds and they are located in several small-medium sized municipalities across Poland. EIB funds will help Poland to meet
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