>@EIB/To be defined
@EIB/To be defined

Martin Malvy, President of the Council of the Midi-Pyrénées Region, and Philippe de Fontaine Vive, Vice-President of the European Investment Bank (EIB), have signed a €200 million agreement to finance the construction and refurbishment of the region’s schools. The signing ceremony was held on Monday 12 May 2014 at the historic lycée Saint-Sernin in the centre of Toulouse, following a site visit.

This €200 million loan will serve to finance the Midi-Pyrénées Region’s education and training investment projects on preferential terms. 100 construction, modernisation and refurbishment projects have been selected: 91 upper secondary schools, Toulouse Regional Health School (in the Cartoucherie district), and the psychology faculty of the University of Toulouse Jean-Jaurès. The programme also includes a horizontal project involving the renewal of IT equipment in the region’s secondary schools.

These schemes will represent total investment of €531 million by the Region.

The loan will support the achievement of the Region’s objectives: adapting the school supply to the growing demand in urban areas while maintaining local access in less densely populated areas; improving the employability of secondary school leavers; making substantial energy efficiency gains; and reducing greenhouse gas emissions. As well as energy savings, the refurbishment and construction works will aim at the more sustainable use of natural resources and good waste management with a view to obtaining the “low consumption building” and “high environmental quality” labels.

Focus on the remodelling of the lycée Saint-Sernin in Toulouse

Costing a total of €25 million, the works will involve the complete remodelling of the lycée Saint-Sernin. The central building housing the assembly hall, numerous classrooms and science labs is currently under construction in the heart of the school, with delivery scheduled for November 2014. This will be followed by the conversion of the day school building into a boarding school building and infirmary between November 2014 and summer 2015; the remodelling of the catering building, documentation and information centre and boarding school buildings from 2015 to September 2016; and the refurbishment of the day school, staff room, school life and administration buildings from September 2016 to September 2018.

EIB Vice-President Philippe de Fontaine Vive said at the signing ceremony:

“At a time of economic crisis when unemployment among young people remains high, the EIB is stepping up its action to promote competitiveness and employment alongside the Regions. So I am extremely pleased that the EIB is helping to finance this project, which will make it possible to provide the young people of the Midi-Pyrénées region with quality training and ultimately better job opportunities. Our joint commitment shows that we can work together to foster young people’s success, progress, growth and competitiveness, in France and elsewhere in Europe”.

Martin Malvy, President of the Council of the Midi-Pyrénées Region, also welcomed this new agreement:

This loan agreement between the Midi-Pyrénées Region and the EIB is not the first. It bears witness to our joint commitment to support large-scale projects in the regions, especially for the benefit of young people. This loan, which can be drawn down until 2019, will serve to finance 100 investment projects in the education sector – with all the schemes having a strong emphasis on energy efficiency. Our goal is to provide quality education throughout the region in order to maintain equal opportunities and supply our students with the best tools to succeed. Thanks to the EIB, we have secured highly competitive borrowing terms at a time of shrinking credit for local authorities in France. This will enable us to manage the project’s budget effectively for the benefit of the young people of the Midi-Pyrénées region.”

Today’s agreement represents the third operation between the EIB and the Midi-Pyrénées Region following the financing of renewable energy and sustainable transport projects. It forms part of the unprecedented mobilisation of the EIB at national level in support of projects generating growth and jobs, to which the Bank devoted €7.8 billion in 2013 (80% more than in 2012).