JOENSUU SOCIAL INFRASTRUCTURE PSLF

The project will enhance the city's educational infrastructure including both new construction and major renovation works.

The project aims to support investments in education, from pre-school to secondary level, as well as other teaching facilities and affordable student housing. It is expected to deliver approximately 30?000?m² of renovated teaching space and around 18?000?m² of new or upgraded student accommodation.

The new and upgraded infrastructure financed by the EIB will significantly advance the modernisation of teaching and learning environments, enhancing their pedagogical suitability, energy performance, and standards of quality, health, and safety. These improvements will strengthen the delivery of early childhood and basic education services. By supporting educational and learning activities, the Project is expected to generate substantial positive externalities, including more inclusive economic growth, enhanced productivity through knowledge externalities, and beneficial climate and environmental impacts.

The EIB financing, with the embedded flexible terms as regards the favourable availability period as well as the long maturity, allows for the drawdown and repayment profiles to be aligned with the Project. The operation also provides the Borrower with diversification of their funding sources, and as a key benefit, allows it to blend the loan financing with a grant component, for which the EIB loan is a mandatory element.

Where and if applicable and based on a risk-based approach as defined in the EIBG E&S Policy, the requirements of the Environmental Impact Assessment Directive (EIA) 2011/92/EU as amended by EIA Directive 2014/52/EU, Birds Directive 2009/147/EC, Habitats Directive 92/43/EEC and EU Directive on Energy Performance of Buildings will be checked during appraisal.

The Bank will require the promoter to ensure that contracts for implementation of the project 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.