21 May 2019
Promoter – Financial Intermediary
The project comprises new construction and major renovations of the education infrastructure of the city of Vantaa, the fourth largest city in Finland located in the capital region. The sub-projects are located in different parts of the city and accommodate different levels of education from pre-primary to upper secondary education. In addition, some cultural and sport facilities are to be included in the project.
The project will contribute to human capital formation and hence the knowledge economy in Finland. It is aimed at upgrading and modernising the pre-primary, primary and secondary schools estate, including facilities for children with special educational needs. The purpose is to improve the learning environment for students and the working conditions for teachers. Additionally, the refurbishments completed as a part of the project aim to improve the energy efficiency of the education infrastructure.
Proposed EIB finance (Approximate amount)
EUR 140 million
Total cost (Approximate amount)
EUR 303 million
Directive 2014/52/EU amending the EIA Directive 2011/92/EU on Environmental Impact Assessment (EIA) does not specifically cover educational activities, 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, educational facilities 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 building and Directive 2012/27/EU on energy efficiency. Social and environmental aspects as well as any issues related to historical and cultural heritage will be verified during the appraisal.
The Bank will require the promoter to ensure that contracts for the implementation of the project have been / will be tendered in accordance with the relevant applicable EU procurement legislation, Directive 2014/24/EU, where applicable, as well as Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with the publication of tender notices in the Official Journal of the EU, as and where required.
Signed - 3/12/2019