Tallinn planning to open a municipal bank

A draft law to create a municipal bank in Tallinn will head to the city council on Thursday.

The first step will be to set up a foundation to oversee the business plan and budget of the proposed bank, Eesti Päevaleht reported on April 15, 2014.

The bank should open doors by the fall or winter this year, the city said, adding that 50,000 euros will be set aside for the project with additional sums also considered.

Read more from ERR

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