- EIB signs €110 million loan deal with KOy Helsingin Toimitilat to finance new Myllypuro and Roihupelto campuses for vocational education and training in Helsinki.
- The new campuses will replace ageing buildings with more energy-efficient facilities and concentrate Stadin AO’s activities in two locations.
- The new buildings’ energy performance will exceed the legal requirements in Finland, being over 10% more efficient than the standard for nearly zero-energy buildings.
The European Investment Bank (EIB) has signed a €110 loan agreement with KOy Helsingin Toimitilat to provide facilities for Finnish vocational training provider Stadin AO. The financing will be used to construct two new campus buildings in Myllypuro and Roihupelto, consolidating Stadin’s activities that are currently spread across 14 different locations onto two sites.
The new buildings will exceed the minimum requirements of the Finnish energy performance standards, being at least 10% more efficient than the threshold set for nearly zero-energy buildings. A significant share of the energy demand will be covered by renewable energy sources in the form of solar panels and air and ground source heat pumps.
Moreover, circular economy strategies and the use of low-emitting materials will be integrated in the design, ensuring more sustainable buildings.
“Lifelong learning is a very important part of personal development,” said EIB Vice-President Thomas Östros, who is responsible for the Bank’s operations in Finland. “This support for vocational schooling and an adult learning institute falls under the EIB’s policy goals for innovation, digital and human capital and is also in line with the Bank’s climate priorities due to the more sustainable facilities. The EIB has been supporting the Finnish educational system for many years, and we look forward to doing more.”
Sirpa Lindroos, principal of Stadin AO, Helsinki Vocational College and Adult Institute, said: “The financing will be used to construct two new campus buildings in Myllypuro and Roihupelto, consolidating Stadin’s activities that are currently spread across 14 different locations onto two sites.”
The two new campuses are designed to enable the City of Helsinki to implement recent reforms to the Finnish vocational education and training system that push for more responsiveness to labour market needs, introducing a competence-based and student-focused pedagogical approach, and integrating youth and adult training provision.
Background information
The European Investment Bank (EIB) is the long-term lending institution of the European Union and is owned by the EU Member States (Finland owns 1.48% of the EIB). It makes long-term finance available for sound investment in order to contribute towards EU policy goals. In 2022, the Bank made available in excess of €775 million in loans for Finnish projects. The EIB borrows money on capital markets and lends it to projects that support EU objectives, with about 90% of all loans being allocated within the European Union.
KOy Helsingin Toimitilat is a wholly owned subsidiary of the City of Helsinki. The company was established to manage certain real estate properties that the city owns.
Stadion AO is the Helsinki Vocational College and Adult Institute, one of the largest public providers of vocational education and training in Finland, with a long track record of providing quality education.