Release date: 9 October 2017
Promoter – Financial Intermediary
CITY OF HELSINKILocation
Description
The project finances the development of a new Myllypuro campus for Metropolia University of Applied Sciences in Helsinki, Finland. The campus development project supports the university's plans to concentrate all their operations on four main sites, from the 20 existing locations.
Objectives
The project will enhance the learning environment for students and the working conditions for teachers by upgrading and modernising the university estate. The project will assist the university in achieving efficiency gains by co-locating different faculties on the same sites. Overall, the project contributes to human capital formation and hence the knowledge economy in Finland. It is also expected that the project will have positive social benefits as education is an element of social cohesion.
Sector(s)
- Education - Education
Proposed EIB finance (Approximate amount)
EUR 90 million
Total cost (Approximate amount)
EUR 194 million
Environmental aspects
University buildings are not specifically mentioned in the EIA Directive 2011/92/EU (as amended by Directive 2014/52/EU) on Environmental Impact Assessment (EIA), though the project may be covered by Annex II of the Directive in relation to urban development. The Bank's services will verify during appraisal whether an EIA is required and the screening decision of the competent authority. The public buildings will be required to at least meet the energy efficiency targets as defined in: a) Directive 2010/31/EU on Energy Performance of Buildings; and (b) Directive 2012/27/EU on Energy Efficiency.
Procurement
The Bank will require the promoter to ensure that contracts for the implementation of the project have been tendered in accordance with the relevant applicable EU procurement legislation, 2014/24/EU or 2004/18/EC where applicable, as well as Directive 89/665/EEC as interpreted by the Court of Justice of the European Union, with publication of tender notices in the Official Journal of the European Union, as and where required.
Status
Signed - 19/03/2018
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).