NIB and CEB to co-finance University of Tartu’s academic and research buildings

NIB, the Council of Europe Development Bank (CEB) and the University of Tartu have agreed on up to EUR 100 million financing for the construction and renovation of the university’s academic and research buildings in Estonia.

NIB’s financing of EUR 40 million and CEB’s loan of EUR 60 million are earmarked for:

• the construction of the building complex in Maarjavälja, Tartu, that will host the staff and students of the University of Tartu Institute of Technology, Institute of Molecular and Cell Biology, Institute of Pharmacy, and Institute of Bioengineering;
• the renovation of the academic building of the Institute of Cultural Research at Ülikooli 16, Tartu;
• the reconstruction of the university’s academic building at Kaarli pst 3, Tallinn.

According to Rector of the University of Tartu Toomas Asser, the Maarjavälja complex will have world-class conditions for studies and research in robotics, computer engineering, gene technology, biomedicine, bioengineering, pharmacy and other disciplines of increasing importance to society.

“The current premises of the institutes moving to the new complex restrict our researchers’ capabilities and the development of high-level research. Bio- and medical technology companies cannot emerge without top-notch laboratories where the foundation for innovation is laid. With the new building, we are providing an opportunity for a quality leap in fields with great potential to grow research-intensive businesses and shape the future of Estonia’s state and economy,” he noted. Asser also emphasised the importance of creating an attractive learning environment for young people interested in engineering and technology fields essential for Estonia.

“Enhancing R&D capacity is crucial for the competitiveness of both Estonia and Europe as a whole. Investment in education infrastructure boosts innovation and collaboration, and the University of Tartu is playing a role in future growth,” said NIB President and CEO André Küüsvek.

“The University of Tartu’s investments in state-of-the-art academic infrastructure will not only strengthen the country’s research and teaching capacity, but also catalyse the kind of scientific progress that benefits society at large. This project, co-financed by the CEB and NIB, reflects our deep commitment to investing in people and future generations,” added CEB Governor Carlo Monticelli.

The Maarjavälja premises, scheduled to be completed in 2029, will include a study building shared between all institutes in the complex. This will make the use of lecture halls more efficient and offer new opportunities for interdisciplinary collaboration between students and teaching staff.

The complex will also include a drone hall, where students can develop their technical skills and researchers can test new technologies. Additionally, the Institute of Technology will offer training to companies to enhance their technological capabilities in using drones and robots.

The renovation of the university’s Institute of Cultural Research, and the reconstruction of the Tallinn academic building will ensure a better working environment for staff and more than 900 students. The Ülikooli 16 building will be completed by autumn 2025, and the Tallinn building in 2027.

The University of Tartu is the leading research university in Estonia and the only Estonian-language universitas – comprehensive university – in the world. Its competitive advantages are internationality, the quality of teaching and research, and diversity.

The Nordic Investment Bank (NIB) is the international financial institution of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. The Bank finances projects that improve productivity and benefit the environment of the Nordic-Baltic region. The Bank is headquartered in Helsinki with a regional hub in Riga. NIB has the highest possible credit rating, AAA/Aaa, with S&P Global Ratings and Moody’s.

The Council of Europe Development Bank (CEB) is a multilateral development bank with an exclusively social mandate from its 43 member countries. The CEB finances investment and provides technical assistance in social sectors such as education, health and affordable housing, while focusing on the needs of vulnerable people, as well as on the social dimensions of climate change and the environment. The CEB, which has a triple-A credit rating, funds itself through international capital markets. In addition, the CEB receives funds from donors to complement its activities.

Contact information:

Ele Heinsalu, Senior Specialist for Communication at University of Tartu, +372 737 5509, ele.heinsalu@ut.ee
Vytautas Brazaitis, Senior Communications Officer at NIB, +358 618 0235, vytautas.brazaitis@nib.int
Jelica Vesic, Senior Communications Officer at CEB, +33 6 03 12 57 80, jelica.vesic@coebank.org