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Signature(s)

Amount
€ 110,000,000
Countries
Sector(s)
Finland : € 110,000,000
Education : € 110,000,000
Signature date(s)
13/11/2023 : € 110,000,000
Link to source

Summary sheet

Release date
14 March 2023
Status
Reference
Signed | 13/11/2023
20220042
Project name
Promoter - financial intermediary
HELSINKI VOCATIONAL EDUCATION CAMPUSES
CITY OF HELSINKI
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 110 million
EUR 245 million
Location
Sector(s)
Description
Objectives

The project concerns the investment in highly modern campuses for vocational education and training. In particular, it concerns the construction of the new Roihupelto and Myllypuro campuses for the Stadin AO, Helsinki Vocational College and Adult Institute in Helsinki, Finland. The campus development project supports the plans of the college to concentrate its operations onto fewer main sites from currently 14 existing locations.

The aim is to implement innovative pedagogical and student counselling approaches, which can be expected to result in better skills acquisition and improved productivity of graduates. The new campuses will also play a pivotal role in the integration of recently arrived migrants into the Finnish labour market. In addition, the new premises will be highly energy-efficient and will contribute to climate action. The project is in line with the objectives of the European Education Area by investing in the quality, inclusiveness and digitalisation of Finland's education system.

Additionality and Impact

The Project addresses a demography-driven need for additional places in vocational education in the City of Helsinki and is in line with the objectives of the European Education Area by investing in the quality, inclusiveness and digitalisation of Finland's education system.

The two new highly modern campuses for vocational education and training will have the capacity to serve 5800 students annually and will increase the system's capacity by 1100 places.

The new premises will be energy efficient and will achieve high environmental standards, thus contributing to the climate action and environmental sustainability objectives.


The EIB financing will offer flexible terms with a favourable availability period offering the possibility to match the drawdown profile with the project outflows as well as a long maturity. The operation will also provide the Borrower with diversification of its funding sources. 

Environmental aspects
Procurement

The Environmental Impact Assessment (EIA) Directive 2014/52/EU amending the EIA Directive 2011/92/EU on does not specifically cover school and educational infrastructure, leaving it at the discretion of the responsible competent authorities to request an EIA on the basis of the location and scale of the works concerned. However, school and educational infrastructure may fall under Annex II of the Directive with respect to urban development. The public buildings will be required to at least meet the energy efficiency targets as defined in Directive 2010/31/EU on the energy performance of buildings and Directive 2012/27/EU on energy efficiency. Social and environmental aspects as well as any aspects related to historical and cultural heritage will be verified during the appraisal.

The promoter has to ensure that contracts for implementation of the project have been and/or will be tendered in accordance with the applicable EU procurement legislation Directive 2014/24/EU as well as Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.

Milestone
Under appraisal
Approved
Signed
8 June 2023
13 November 2023
Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Data Sheet (ESDS) - HELSINKI VOCATIONAL EDUCATION CAMPUSES
Publication Date
13 Jun 2023
Document language
Main Topic
Lending
Document Number
158221918
Document Focus
Environmental Information
Project Number
20220042
Sector(s)
Regions
Countries
Publicly available
Download now

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