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Cobalt Estonia has advised the EBRD on its investment of EUR 20 million into the BaltCap Infrastructure Fund, making the EBRD the second anchor investor of the fund, following the European Investment Bank's identical investment last year.

“The Estonian market faces a combination of challenges on how to boost the economy and attract business,” says Merit Lind, Partner at Deloitte Legal in Estonia. “However, some of the initiatives clash somewhat with anti-money laundering prevention policies,” she says, referring to the e-Residency program famously introduced in the country at the end of 2014.