Finland: Investment Plan for Europe: EIB support Helsinki’s “second city centre”
22 June 2016
The European Investment Bank (EIB) has signed a loan agreement with YIT of Finland, in support of energy efficiency in an urban development project in Helsinki. The loan is guaranteed under the European Fund for Strategic Investments (EFSI).
“We are glad to contribute to “the second centre of Helsinki” as the Tripla project has been dubbed. Urban development and energy efficiency in the pursuit of more sustainable and competitive cities are strategic priority objectives of the EIB, also in connection to our commitment of at least 25% of all our lending going towards climate action. The fact that Tripla will be a near-zero energy building fits very well with that. Importantly, the EIB loan in support of the Tripla project is guaranteed under the European Fund for Strategic Investments (EFSI), part of the Juncker-Commission’s Investment Plan for Europe, which allows the EIB to expand its support for energy efficiency projects, amongst other things.” said Vice-President Jan Vapaavuori, responsible for EIB operations in Finland.
The EU Bank provided a EUR 130 million loan in support of the construction of Tripla near-zero energy building project in Helsinki, Finland. Apart from commercial real estate, the project also comprises a completely refurbished railway station and large parking facilities. The project is the cornerstone of commencing a multi-billion urban development and renewal scheme for the Pasila area of the Finnish capital, until recently a sizable rail and transport area but due to house some 12.000 residents by 2040. The Tripla building will be the biggest shopping centre in Finland by number of businesses and will serve as an important transport hub for the citizens.
The operation is fully guaranteed by the European Fund for Strategic Investments, part of the Juncker-Commission’s Investment Plan for Europe. The other financiers supporting the project are the Nordic Investment Bank, Danske Bank and Handelsbanken.
The EIB Group has stepped up its level of precaution at its headquarters in Luxembourg and in its external offices. All staff will telework as of 16 March. A small number of staff whose physical presence on EIB premises is indispensable will continue to be present on the EIB campus. The decision aims to protect the health of employees and ensure the continuity of the EIB Group’s activity.
On Wednesday the EIB identified its first case of one staff member who tested positive for corona virus.
As a precautionary measure, the EIB decided not to hold the meeting of its Board of Directors planned for Thursday 12 March in person. Decisions on the Board’s agenda will be taken by written procedure. The Bank has put in place measures to prevent disruption to its governance or operation approval schedule.
On Monday 2 March, the former President of the European Council, Donald Tusk, visited the EIB in Luxembourg on a joint invitation from the Bank, the European Stability Mechanism (ESM) and the Court of Auditors.