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  • The financing will support Turku’s investments in the construction and major renovation of kindergartens, schools and sports facilities.
  • Modernising and adapting school infrastructure aims to improve the quality of education and meet the demands of an increasing and more diverse student population in Turku.

The European Investment Bank (EIB) has provided €190 million in financing to the City of Turku, a Finnish municipality, for the construction of new schools and the refurbishment of existing schools across different parts of the city.

The financing will enable Turku to accelerate the modernisation of teaching and learning environments in terms of educational fit, energy efficiency, quality, and health and safety, improving the provision of early childhood education and basic education.

With the goal of modernising and adapting school infrastructure to strengthen children’s soft skills, such as teamwork, project management and collaboration, the project is one of the most ambitious school redesign projects in Europe.

Turku is one of Finland’s biggest growth centres, and we respond to growth by investing heavily. The EIB financing agreement focuses on improving existing schools, day-care centres and sports facilities, and building new ones. The investments will retain Turku’s appeal for residents of the city and help to attract newcomers, says Minna Arve, Mayor of Turku.

“With our long-standing and good relationship with the City of Turku, we are pleased to be supporting modern school infrastructure and better education,” says EIB Vice-President Thomas Östros, who covers Finland as part of his portfolio“Finland has implemented one of the most ambitious school redesign projects in Europe, showing a commitment to continue improving the already high-ranking Finnish educational system.”

Background information

The EIB Group has adopted a Climate Bank Roadmap to deliver on its ambitious agenda to support €1 trillion of climate action and environmental sustainability investments in the decade to 2030 and to deliver more than 50% of EIB finance for climate action and environmental sustainability by 2025. As part of the roadmap, all new EIB Group operations have been aligned with the goals and principles of the Paris Agreement since the start of 2021.

The City of Turku is a fast-growing city in Southwest Finland with nearly 200 000 inhabitants. Turku is a prime example of Nordic urban success — a human-centred community with a big city identity, connected to nature. As a medium-sized city, Turku is punching above its weight in terms of ambition for sustainability, well-being and community development. It has chosen culture and the arts to address urban development challenges such as urban segregation and fading downtown areas, and to improve health and boost innovation.