REPuBLic OF EsT0NIA
MINisTRY OF FINANcE
Council of Europe Development Bank
(CEB)
Governor Carlo Monticelli
55, Av Kleber
F-75116 Paris
Ourref. 06.03.2024 No 11-4.11/’1f4(—/
France
Capital increase subscription
Dear Governor,
Foiiowing Resolution 463 (2022), dated 2 December 2022, by the CEB’ Goveming Board to
increase the Bank’s subscribed capital by a maximum of EUR 4,25 billion, Estonia hereby
subscribes to participating certificates for an amount of EUR 9 872 000 corresponding to an
amount of capitai to be paid in ofEUR 2 787 853.
1 also confirm that ali the conditions for this subscription have been met and 1 note that the
subscription of these new certificates wili take place in accordance with the provisions set out in
the Governing Board Resolution.
Estonia intends to pay the paid-in capitai ofEUR 2 787 853 as follows:
2024: EUR 1 393 926,50;
2025: EUR 696 963,25;
2026: EUR 696 963,25.
Yours sincerely,
Mart Vorklaev
Minister of Finance
CC:
Mr Rasmus Lumi, Permanent Representative of Estonia to the Council of Europe
Ms Christiane Schimeck, Head of the Secretariat of the Partial Agreement on the CEB
Mr Rafael Ruisanchez, Director of the Risk and Control Directorate
Riina Laigo +372 611 3500, riina.laigofin.ee
Suur-Ameerika 1 / 10122 Tallinn / Estonia / +372 611 3558 /info@rahandusministeerium.ee
www.rahandusministeerium.ee / Reg. code: 70000272