Estonia: State to fund apartment building renovation for EUR 500mn

The Estonian government has allocated a record EUR 185mn of EU funds for renovating apartment buildings, ERR reports. Infrastructure Minister Vladimir Svet said that another EUR 80-90mn would be available for renovations annually over the next three years. The state will thus provide altogether almost EUR 500mn of support through various instruments for apartment building renovation over four years. The state support will cover 30-50% of renovation costs. The Ministry of Climate estimated that around 14,000 old apartment buildings need to be fully renovated by 2050. So far, more than 1,600 or just over 10% of the buildings have been renovated.