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Signature(s)

Amount
€ 105,000,000
Countries
Sector(s)
Finland : € 105,000,000
Education : € 105,000,000
Signature date(s)
20/11/2024 : € 105,000,000
Link to source

Summary sheet

Release date
3 June 2024
Status
Reference
Signed | 20/11/2024
20230578
Project name
Promoter - financial intermediary
TUUSULA EDUCATION INFRASTRUCTURE
MUNICIPALITY OF TUUSULA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 105 million
EUR 164 million
Location
Sector(s)
Description
Objectives

The project will finance the modernisation and adaptation of school infrastructure in both early childhood education and care and basic education. In particular, it concerns investments in three new campuses (Riihikallio, Rykmentinpuisto, Lahela) for pre-primary, primary and secondary education. A good level and quality of education accessible to all is essential for the economic, social and intellectual development of a country. Given the economic and social consequences of the global health crisis, the role of education is even more important to improve the living conditions and economic and social opportunities of young people. Following the new national curriculum introduced in 2016, Finland has been undergoing one of the most ambitious school redesign projects in Europe, exchanging traditional walled-in classrooms and rows of desks for more flexible and informal open-plan layouts.

The aim is to improve the quality of education in Tuusula and more broadly in Finland, by also better allocating the resources in the sector. The project is in line with national and local priorities in education and with the EU priorities and objectives, in particular the European Education Area 2025 strategy. Additionally, the project is expected to improve the energy efficiency of the Turku's education estate by providing more efficient new educational facilities and by renovating existing ones. The project is therefore eligible under Article 309 point (c) common interest (Innovation, Digital & Human Capital: education and training) and (c) common interest (Climate Action and Environmental Sustainability).

Additionality and Impact

The new and upgraded infrastructure financed by the EIB will accelerate the modernisation of teaching and learning environments in terms of pedagogical fit, energy efficiency, quality, health and safety, improving the provision of early childhood education and basic education. Through the support to education activities, the Project will favour positive externalities, including inclusive economic growth and increased productivity knowledge externalities, as well as climate and environmental externalities. 


The EIB financing will offer flexible terms with a favourable availability period offering the possibility to match the drawdown profile with the Project outflows as well as a long maturity. The operation will also provide the Borrower with diversification of their funding sources. 

Environmental aspects
Procurement

Directive 2014/52/EU amending the Environmental Impact Assessment (EIA) Directive 2011/92/EU on EIA does not specifically cover school and educational infrastructure, leaving it at the discretion of the responsible competent authorities to request an EIA on the basis of the location and scale of the works concerned. However, school and educational infrastructure may fall under Annex II of the Directive with respect to urban development. The public buildings will be required to at least meet the energy efficiency targets as defined in Directive 2010/31/EU on the energy performance of buildings and Directive 2012/27/EU on energy efficiency. Social and environmental aspects as well as any aspects related to historical and cultural heritage will be verified during the appraisal.

The promoter has to ensure that contracts for implementation of the project have been and will be tendered in accordance with the applicable EU procurement legislation, Directive 2014/24/EU as well as Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.

Milestone
Under appraisal
Approved
Signed
12 September 2024
20 November 2024
Link to source
Other links

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).

Documents

Environmental and Social Data Sheet (ESDS) - TUUSULA EDUCATION INFRASTRUCTURE
Publication Date
21 Sep 2024
Document language
Main Topic
Lending
Document Number
178909921
Document Focus
Environmental Information
Project Number
20230578
Sector(s)
Regions
Countries
Publicly available
Download now

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