• This is the first direct financing from the EIB to the Seine-Saint-Denis Department – worth a substantial EUR 240m – to be deployed for the refurbishment and modernisation of 22 collèges (lower secondary schools) in the Department of Seine-Saint-Denis and the implementation of 14 energy transition operations to improve the energy efficiency of the buildings.
  • 21 of the collèges financed by the EIB are located in priority education areas and nine have adapted general and vocational education sections (SEGPA) to help pupils experiencing difficulties at school.

EIB Vice-President Ambroise Fayolle and President of the Seine-Saint-Denis Department Stéphane Troussel today announced the signature of a EUR 240m financing agreement in support of the “Ambition Collèges” Plan launched in 2015 by the Seine-Saint-Denis Department to address the needs of pupils in what is still the youngest Department in metropolitan France. The Department was able to benefit from attractive financial terms thanks to the EIB’s AAA credit rating, including a long maturity tailored to the Department's financing requirements.

The financing agreement was signed at Collège Robespierre in Epinay-sur-Seine, which has adopted an environmental approach embraced by its pupils. The participants at the signing ceremony also visited the school (vegetable garden, waste sorting tables, beehives, etc.) and met some of the pupils.

“I am proud of the population trends in Seine-Saint-Denis, which are beneficial for the whole of France. In order to provide our students with a relaxed, high-quality learning environment, we have launched a massive investment programme in support of education. Against a constrained financial backdrop, this welcome partnership with the European Investment Bank will truly enable us to refurbish and build collèges”, said Stéphane Troussel, President of the Seine-Saint-Denis Department.

“I am delighted that the EIB is supporting ‘Ambition Collèges 2020’ in Seine-Saint-Denis. With this large-scale financing operation, the bank of the European Union is mobilising its resources to support training for young people in priority education areas”, stated EIB Vice-President Ambroise Fayolle during his visit. “Our aim is to finance sustainable, refurbished, modern collèges equipped with low-energy infrastructure that is therefore less costly to run. This EIB commitment forms part of a wider effort to develop the region, including, in particular, support for a high-quality transport service.”

This major EU loan will enable the Seine-Saint-Denis Department to finance 36 operations under its “Ambition Collèges 2020” Plan. Eight new collèges with operational buildings and sophisticated equipment – particularly IT and technological equipment – tailored for teaching can therefore now be built. Seven collèges will be rebuilt and another seven will be modernised and refurbished.

In accordance with the Paris Agreement and the EIB's priority action in support of energy transition, this EU financing will also make it possible to successfully carry out 14 energy efficiency refurbishment operations at collèges in Seine-Saint-Denis to optimise the infrastructure built or refurbished, with the dual objective of cutting both their operating costs and carbon emissions. 63% of the project's total investment cost is therefore dedicated to the energy efficiency of the infrastructure via insulation, the use of renewable energy sources and other measures in keeping with new national and EU energy performance standards.

The Seine-Saint-Denis Department, which must face up to the issue of unprecedented economic development, provide the solidarity that is vital for its inhabitants, and meet the challenges presented by the size of its population, clearly welcomes an agreement that enables it to secure the resources necessary to match its ambitions.

The EU bank is pursuing concrete actions at the heart of the regions to finance projects that have a direct impact on people's daily lives. Helping young people is one of the EIB's top priorities and special attention will be paid to their education from lower secondary school to university, and to the facilities, buildings and living spaces dedicated to them. The EIB has financed the refurbishment and modernisation of collèges in Seine-et-Marne, Essonne, Hauts-de-Seine and the city of Paris which, together with this financing operation in Seine-Saint-Denis, represents a total investment of EUR 820m in support of collèges in Île-de-France.