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    Reference: 20160217
    Release date: 28 November 2016

    Promoter – Financial Intermediary




    The project involves the provision of comprehensive and upper secondary school facilities to support the city of Espoo's education strategy. This includes the construction of completely new school complexes and/or the extension and/or refurbishment of existing schools.


    The project will contribute to human capital formation and hence the knowledge economy in Finland. It aims to upgrade and modernise the comprehensive and upper secondary schools estate. The purpose is to enhance the learning environment for pupils and students, and working conditions for teachers. Accordingly, the project is consistent with actions in support of the EU Horizon 2020 strategy, in reinforcing the human capital stock of a Member State, increasing access to lifelong learning, improving the quality of education, and cultivating human and social capital for growth, employment and inclusion. The project also embeds investments aiming to improve the energy efficiency of school and education-related buildings, existing or new, to comply with stricter norms as described in national law and implementing Directive 2010/31/EU on energy efficiency of buildings. The extent of the investment and its impact will be verified during appraisal.


    Proposed EIB finance (Approximate amount)

    EUR 60 million

    Total cost (Approximate amount)

    EUR 166 million

    Environmental aspects

    The project includes new buildings, and extension and renovation of existing primary and secondary schools. Directive 2011/92/EU does not specifically mention the need for an environmental impact assessment (EIA) for buildings related to education, but it may be that some sub-projects could be regarded as urban renewal projects and might require an EIA (Annex II of the directive). This will be examined during the appraisal.


    The procedures for tendering and procurement used by the promoter must comply with the relevant applicable EU procurement legislation (Directives 2014/24/EU and/or 2014/25/EU and/or 2014/23/EU where applicable, as well as Directives 89/665/EEC and 92/13/EEC. The procedures will be assessed during the appraisal.


    Signed - 9/06/2020


    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).

    Related tags

    Finland Education