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    Reference: 20160172
    Release date: 14 April 2016

    Promoter – Financial Intermediary




    The project comprises the construction of new schools and daycare centres and the refurbishment and/or extension of existing schools.


    The project supports the implementation of the city of Espoo's education strategy and comprises the construction of four new pre-schools/daycare centres (of which one will be open 24/7) and three new comprehensive schools, the extensions of three school campuses and the refurbishment of one comprehensive and one upper secondary school in Espoo over the period 2016-2020.


    Proposed EIB finance (Approximate amount)

    EUR 140 million

    Total cost (Approximate amount)

    EUR 358 million

    Environmental aspects

    Schools are not specifically mentioned in Directive 2011/92/EU on environmental impact assessment (EIA), though the project may be covered by Annex II of the directive in relation to urban development. The Bank's services will verify during appraisal the screening decision of the competent authority and whether an EIA is required. It is expected that the project will have positive social benefits as education is an element of social cohesion.

    The public buildings will be required to at least meet the minimum national targets concerning energy efficiency. The design energy performance of the schools and any specific related targets to be met will be verified during appraisal.


    The Bank will require the promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Directives 2004/18/EC and/or 2004/17/EC as well as Directives 89/665/EEC and 92/13/EEC) as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.


    Signed - 9/06/2016


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

    Related tags

    Finland Education