14 March 2023
Promoter – Financial Intermediary
CITY OF HELSINKI
The project concerns the investment in highly modern campuses for vocational education and training. In particular, it concerns the construction of the new Roihupelto and Myllypuro campuses for the Stadin AO, Helsinki Vocational College and Adult Institute in Helsinki, Finland.
The campus development project supports the plans of the college to concentrate its operations onto fewer main sites from currently 14 existing locations.
Additionality and Impact
The Project addresses a demography-driven need for additional places in vocational education in the City of Helsinki and is in line with the objectives of the European Education Area by investing in the quality, inclusiveness and digitalisation of Finland's education system.
The two new highly modern campuses for vocational education and training will have the capacity to serve 5800 students annually and will increase the system's capacity by 1100 places.
The new premises will be energy efficient and will achieve high environmental standards, thus contributing to the climate action and environmental sustainability objectives.
The EIB financing will offer flexible terms with a favourable availability period offering the possibility to match the drawdown profile with the project outflows as well as a long maturity. The operation will also provide the Borrower with diversification of its funding sources.
The aim is to implement innovative pedagogical and student counselling approaches, which can be expected to result in better skills acquisition and improved productivity of graduates.
The new campuses will also play a pivotal role in the integration of recently arrived migrants into the Finnish labour market.
In addition, the new premises will be highly energy-efficient and will contribute to climate action.
The project is in line with the objectives of the European Education Area by investing in the quality, inclusiveness and digitalisation of Finland's education system.
Proposed EIB finance (Approximate amount)
EUR 110 million
Total cost (Approximate amount)
EUR 245 million
The Environmental Impact Assessment (EIA) Directive 2014/52/EU amending the EIA Directive 2011/92/EU on does not specifically cover school and educational infrastructure, 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, school and educational infrastructure 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 buildings and Directive 2012/27/EU on energy efficiency. Social and environmental aspects as well as any aspects related to historical and cultural heritage will be verified during the appraisal.
The promoter has to ensure that contracts for implementation of the project have been and/or will be tendered in accordance with the applicable EU procurement legislation Directive 2014/24/EU as well as Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.
Signed - 13/11/2023