Turku Education

Promoter – Financial Intermediary

City of Turku

Location

• Finland

Description

The project involves the construction of new as well as the upgrading and/or refurbishment of existing educational facilities in the Municipality of Turku. The facilities include pre-schools, primary schools, secondary schools and the city’s main public library. The project targets the Turku’s capital investment programme for education from 2005 to 2009.

Objectives

By contributing to the modernisation of schools and other educational and social infrastructure, as well as the enhancement of community facilities, the loan will contribute to human capital formation and social cohesion. This, in turn, is expected to have a long-term positive effect on employability, productivity and economic growth in the region. The project will also assist the municipality in improving the efficiency of resource allocation in the local system.

Sector(s)

• Health
• Education

Proposed EIB finance (Approximate amount)

Up to EUR 60 million.

Total cost (Approximate amount)

Approximately EUR 126 million.

Environmental aspects

The project concerns the construction of new school buildings, renovation and refurbishment of existing buildings all located in urban areas. For this type of project an EIA is not demanded under the Finnish legislation. The environmental sustainability of educational buildings is a high priority for the Finnish authorities, both nationally and locally, and no significant environmental impacts are anticipated.

Procurement

Procurement procedures applied will be in compliance with EU Council Directives and national legislation, applicable to public authorities’ procurement.

Status

Signed - 24/03/2006