- The EIB will provide a 25-year loan of €190 million.
- This loan will help to finance the Brittany region’s upper secondary school plan.
- 116 schools in the region are set to benefit from infrastructure upgrades, improvements to energy efficiency and climate resilience, better accessibility, and new educational equipment.
The European Investment Bank (EIB) and the Brittany region have signed a 25-year, €190 million finance contract to help modernise educational facilities and adapt them to local demand, with a view to improving the quality of secondary-level education in the area.
With more than 40 real estate projects across Brittany’s four departments, the investment programme will benefit more than 30 000 students by 2028. Educational facilities will be built, extended or refurbished over an area of more than 115 000 m2 as part of the plan to upgrade infrastructure, improve the accessibility, energy efficiency and climate resilience of schools (through the installation of solar panels), and purchase educational equipment.
The Brittany region owns 116 state upper secondary schools covering an area of nearly 2 million m2. It is stepping up its investments in these facilities in an effort to contribute to the green transition. The latest real estate action plan currently in progress (2024-2027) has a budget of €390 million, meaning that the EIB will be financing almost half of it.
President of the Brittany region Loïg Chesnais-Girard said: “This finance contract with the public bank of the European Union will boost the region’s appeal and competitiveness through innovation and education. The favourable terms are a sign of confidence and give us greater means to step up our investment efforts for the green transition. The agreement ties in very well with our plan to provide young people and all upper secondary school staff with the best living and working conditions to help students succeed at school and thrive as the adults of tomorrow.”
EIB Vice-President Ambroise Fayolle added: “Investments in education and the fight against global warming are among the EIB’s top priorities. This long-term project will help to improve public facilities for young people and speed up the climate transition through better energy efficiency. It is a clear example of how the European Union can play a vital role in improving the everyday lives of its people.”
Background information
About the European Investment Bank
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its 27 Member States. It provides loans to the public and private sectors for sound investment contributing to EU policy goals. In 2023, France received more EIB financing for the energy and green transition than any other country, with an overall investment of €6.9 billion for renewable energy, clean mobility and energy efficiency. As the partner of regional authorities, the EIB allocated over €900 million to the education sector in 2023, a huge increase on the previous year. In secondary education, it signed finance contracts for school construction and renovation projects for lower secondary schools in five departments, and for upper secondary schools in two regions (Île-de-France and Brittany).
About the Brittany region’s upper secondary school plan
The Brittany region owns 116 state upper secondary schools covering an area of nearly 2 million m2. Educational facilities will be built, extended or refurbished over an area of more than 115 000 m2 by 2028 as part of the upper secondary school plan, with an overall investment of €390 million. 26 upper secondary schools in Brittany accommodating nearly 30 000 students will benefit.