Übersicht
The project finances selected education investments from the City of Vantaa's investment plan. This concerns both new construction and major renovations, including also extension and replacement of existing obsolete facilities. The sub-projects are located in different parts of the city and accommodate different levels of education from pre-primary to lower secondary education.
By contributing to the modernisation and adaptation of school infrastructure in both early childhood education and care and basic education, the aim is to improve the quality of education in Vantaa and, more broadly, in Finland, and a better allocation of resources in the education sector. A good level of education and a good quality of education accessible to all are essential for the economic, social and intellectual development of a country. The project is in line with the European Education Area 2025 strategy, EU priorities and objectives, as well as national and local priorities in education. The project is expected to contribute to climate action and environmental sustainability (CA&ES) objectives, in particular to climate mitigation and climate adaptation. Therefore, the project is conformed with Article 309 point (c) common interest of the Treaty on the functioning of the European Union.
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 and learning 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.
Where and if applicable and based on a risk-based approach as defined in the EIB Group Environmental & Social Policy, the requirements of the Environmental Impact Assessment (EIA) Directive 2011/92/EU as amended by Directive 2014/52/EU, Birds Directive 2009/147/EC, Habitats Directive 92/43/EEC and EU Directive on Energy Performance of Buildings will be checked during appraisal.
The promoter has to ensure that contracts for implementation of the project 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.