The European Investment Bank (EIB) is making a EUR 100m loan available for financing operations in the educational sector. The money is intended for small and medium-sized enterprises involved in projects such as playschools, schools or vocational training facilities. The EIB and Helaba Landesbank Hessen-Thüringen signed such a loan contract in Luxembourg today.
This agreement builds on the successful cooperation that has existed between the EIB and Helaba for more than ten years. The dedicated global loan will finance projects that meet the “Knowledge Economy” criterion, such as education and training, and research, development and innovation projects. These areas are crucial for developing the competitiveness and long-term economic growth of Europe. The types of scheme eligible for assistance include the construction and renovation of educational facilities and supply of teaching equipment or upgrading of IT infrastructure. The loans are available to both public and private sector companies. Between EUR 40 000 and a maximum of EUR 25m may be borrowed for a single project and up to 50% of the capital costs may be funded from EIB resources.
EIB Vice-President Matthias Kollatz-Ahnen commented: “Education is fundamental for Europe’s growth. However, it is at the municipal level in particular that long-term loans on favourable terms are necessary for crucial investment in schools or playschool facilities. With our partner Helaba we are offering appropriate funding for a range of projects.”
As Helaba Board member Rainer Krick put it: “Education – from early childhood onwards through to vocational training – is an important building block for ensuring that we are in a strong position to compete with other locations and for safeguarding our future capacity. For a long time we have been successfully financing projects that contribute towards improving educational infrastructure. With the resources from this global loan we are available as a partner for projects involving playschools or schools, for instance.”
Background information:
The European Investment Bank is the European Union’s bank for long-term lending. Its remit is to support the objectives of the EU by financing viable projects.
Helaba Landesbank Hessen-Thüringen, with assets totalling around EUR 166bn and a staff of 6 000, is one of Frankfurt’s leading banks. It sees itself as an integrated universal bank with a strong regional focus and its strategic business model is based on three corporate units: Wholesale; Private Customers and SMEs; and Public Development and Infrastructure.
Press contact: Helaba Landesbank: Website: www.helaba.de