The European Investment Bank and the Nordic Investment Bank are providing €30 million in long-term financing for a new education and community facility in Espoo, Finland.
The two lenders will each provide €15 million to Espoon Koulutaival Oy, a project company wholly owned and managed by infrastructure investor Meridiam, the EIB informed.
The funding will support the construction of the Jupperi multipurpose building, a 7,200 square metre complex bringing together primary education, daycare, sports, library and community services. The facility is expected to serve around 600 pupils.
The building is designed to meet high energy-efficiency standards.
School, daycare, library and community services under one roof
The project is part of the City of Espoo’s “Schools in Shape” initiative to provide safe, healthy and accessible facilities for pupils and staff and adapt education infrastructure to population growth and changing needs, the European Investment Bank said.
“Modern schools are an investment in children, communities, and Europe’s future,” stated EIB Vice-President Karl Nehammer.
Nordic Investment Bank President and Chief Executive Officer André Küüsvek said: “Investing in modern schools in one of Finland's fastest-growing urban areas secures high-quality learning environments for children for years to come.”
City of Espoo Director Reijo Yrjölä said the project would bring the Jupperi school, daycare centre and city library — currently operating in temporary facilities — into a single building.
The European Investment Bank said its financing is backed by InvestEU, an EU programme intended to mobilise more than €372 billion in additional investment between 2021 and 2027.
