GREEK UNIVERSITIES PPP - PROGRAMME LOAN

Promoter – Financial Intermediary

HELLENIC REPUBLIC

Location

• Greece

Description

The project comprises the design, construction, financing and operation of student accommodation and other facilities (including research and development (R&D) laboratories) for Greek universities using the public–private partnership (PPP) design-build-finance-operate-maintain (DBFOM) procurement method.

Objectives

The project aims to address an acute shortage of student housing, which represents a barrier for access to higher education for young people from disadvantaged socioeconomic backgrounds and a competitive disadvantage for the universities concerned, compared to universities in regions where accommodation is more readily available. The project also aims to create modern teaching and learning spaces in view of increasing the opportunity for more students to access quality higher education, developing their knowledge and skills, and increasing their educational outcomes for improved employability.

Sector(s)

• Education - Education

Proposed EIB finance (Approximate amount)

EUR 260 million

Total cost (Approximate amount)

EUR 645 million

Environmental aspects

Council Directive 2011/92/EU as amended by Directive 2014/52/EU on Environmental Impact Assessment (EIA) does not specifically cover educational activities, leaving it at the discretion of the responsible national authorities to request an EIA on the basis of the location and scale of the works concerned. However, universities are likely to fall under Annex II of EIA Directive 2014/52/EU with respect to urban development. Social and environmental aspects as well as any issues related to historical and cultural heritage will be verified during the appraisal. The project will include new buildings, which will comply with the 2010/31/EU Directive on energy efficiency of buildings. The project is located in less developed regions as defined by the EU cohesion policy. Therefore, it is expected to support the strengthening of the EU's economic, social and territorial cohesion. The project concerns investments in the accessibility and quality of universities located outside Greece's economic, population and educational hubs of Attica and Central Macedonia, thereby contributing to better-balanced territorial development, counteracting excessive concentration, strengthening secondary growth poles and reducing inequalities between people and between places. Furthermore, the additional student accommodation is expected to provide increased amounts of lower cost accommodation enabling students from lower-income families to access higher education and decreasing living costs for some students in these locations.

Procurement

The Bank will require the Promoter to ensure that contracts for the implementation of the project have been 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 publication of tender notices in the Official Journal of the EU, as and where required.

Status

Approved - 2/02/2022