The aim of the EUR 85m finance contract signed today, Friday 9 October 2015, in Corbeil-Essonnes by François Durovray, President of the Departmental Council of Essonne, and Anita Fürstenberg, Director of the European Investment Bank's Western Europe Department, is to support the department of Essonne in its priority task of education and training of collège students. The signing ceremony took place at Chantemerle collège in Corbeil-Essonnes following a visit of the premises.
This is the first time that the European Union bank has signed a financing agreement with the department of Essone. Given the current economic climate, the principal advantage of this loan is that it provides the department with very favourable financing terms thanks to the EIB's "AAA" rating.
This is a large-scale project to refurbish and upgrade infrastructure, the aim being to adjust the capacity of the schools to accommodate the increase in student numbers locally. Fifteen collèges in the area have already been targeted to receive this financial support. Nine collèges, including Chantemerle collège in Corbeil-Essonnes, will undergo general refurbishment, while work will be carried out on the premises of six other collèges so that lunches can be provided.
While these buildings, together with the Maison de l’Environnement and the Musée de la Photographie, are being refurbished, initiatives will be taken across the board to improve access for the disabled to all public buildings throughout the department and encourage the acquisition of the furniture and IT equipment required for educational programmes. Particular attention will be paid to improving the energy efficiency of buildings, with the aim of reducing both operating costs and carbon emissions.
"The European Union's bank is delighted to sign this maiden loan with the department of Essonne", said Anita Fürstenberg at the signing ceremony. "Against a backdrop of economic crisis and high unemployment among young people, initiatives in support of education and the development of skills are essential to ensure the professional success of future generations. Europe is thus taking practical action affecting the very heart of our regions."
For François Durovray, President of the Departmental Council, "This was very good news for the department of Essonne. Despite the department's budgetary situation, we are delighted that we are able to diversify our sources of finance by being involved with an organisation such as the EIB. We share with the EIB the ambition of giving our young people better opportunities to study effectively."
This loan forms part of the EIB's priority action to support high-quality public services that can meet people's needs in the heart of the regions. Accordingly, since 2013 the EIB has decided to devote EUR 6bn a year to upgrading infrastructure in France.