EIB signs SEK 1.600 million (€153 million) loan agreement with the City of Malmö in support of a major upgrade of school and pre-school buildings.
The loan will support new construction, renovation of buildings, and extensions of several education facilities around Malmö.
The European Investment Bank (EIB) has signed a SEK 1.600 million loan agreement with the Swedish city of Malmö in support of a major education infrastructure update. The project concerns both new constructions and renovations, including also the extension and replacement of existing older facilities. The financing will support upgrades or renewals of comprehensive schools for children between the ages of 6 and 15, as well as facilities for early childhood education.
In view of Malmö’s growth additional preschool and compulsory school places are needed in residential areas with the highest population growth. Next to this, a modernisation programme for learning environments will cater for the digitalisation of schools in view of modern learning practices. The new constructions and renovation will be carried out to ensure air quality, safety, outdoor space, as well as energy efficiency improvements of the school buildings.
EIB Vice-President Thomas Östros, noted: “The city of Malmö is growing rapidly, so it needs education facilities for a higher number of children than ever before. Our school years are the most important formative years of our lives, meaning that we must ensure the best possible conditions for learning. With this financing, the Malmö will overhaul a great number of school buildings and build several new ones, giving all residents the possibility to use good schools and pre-schools.”
“City of Malmö is the fastest growing large city in Sweden and therefore has large investment needs in welfare instructure generally and in schools and pre-schools in particular. Therefore we need partners to finance of infrastructure investments. The City of Malmö and the EIB have cooperated before and the EIB is a valuable financing partner for us. We look forward to continue working with the EIB”, says Katrin Stjernfeldt-Jammeh, Mayor of Malmö.
Malmö is one of Sweden’s fastest growing metropolitan centres. The high number of births and influx of people stand for the greater part of the population increase. Today Malmö is a natural hub for people and cultures from worldwide. Residents in Malmö have backgrounds in over 185 different countries. Malmö is also a young city with half of the residents are below the age of 35 years. Malmö aspires to be a sustainable city – socially, economically and environmentally. Businesses, researchers, inhabitants and the city authorities are working closely together to reduce health-related inequality, especially among children and youth.
Highly-advanced, specialised machining tools and equipment are essential to improve energy efficiency performance and reduce waste in industrial sectors such as component manufacturing, mining and infrastructure. The development of such solutions is cost-intensive yet necessary to keep technology at the forefront, and thereby secure jobs and the economy. The European Investment Bank (EIB) today announced that it has provided a €500 million loan to the leading machining, mining and rock processing solutions company Sandvik for research and development investments.
Energy prices are on the rise, as is the demand for energy independence. At the same time, there is a need for modern, affordable, climate friendly housing in Sweden, and elsewhere. Therefore, the EU bank, EIB, supports this major housing project in the capital of Sweden, and the city’s urban development plans. The City of Stockholm and surrounding municipalities is home for nearly 25% of Swedes. It is also the largest urban agglomeration in the Nordic region. Increasing the stock of new public rental housing in existing urban areas, like in the capital of Sweden, will improve the social mix in Stockholm, a city that has been growing rapidly. Thereby, building these more than 1500 residential units will promote affordable housing. These new buildings, and renovation of a further 200 units, will contribute to the solutions for a complex demographic, social and economic situation in the biggest, economically strongest, and rapidly developing region of Sweden.
The European Investment Bank (EIB), backed by the InvestEU programme, has today announced it has provided a €20 million venture debt loan facility to Affibody. Affibody is a Swedish clinical stage biotech company. It specialises in the development of next-generation biopharmaceuticals based on a proprietary technology, targeting unmet medical needs in immunology and oncology.