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    Reference: 20140134
    Release date: 11 September 2014

    Promoter – Financial Intermediary

    CITY OF HELSINKI

    Location

    Description

    The project consists of the financing of investments in education infrastructure in the City of Helsinki from 2014-2018, comprising both construction of new infrastructure as well as the restoration, renovation or extension of existing facilities.

    Objectives

    The project is aimed at upgrading and modernising the elementary, upper comprehensive, upper secondary schools estate and vocational schools/ institutes, including facilities for children with special educational needs.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    Not disclosed.

    Total cost (Approximate amount)

    Not disclosed.

    Environmental aspects

    Schools are not specifically mentioned in the Environmental Impact Assessment (EIA) Directive 2011/92/EU, though the project may be covered by Annex II of the Directive in relation to urban development. The Bank’s services will verify during appraisal whether an EIA is required and the screening decision of the competent authority. It is expected that the project will have positive social benefits as education is an element of social cohesion.

    Procurement

    The Bank will require the promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Dir. 2004/18/EEC and Dir. 2007/66/EC [amending Directives 1989/665/EEC, 1992/13/EEC and 1336/2013/CE]), with publication of tender notices in the EU Official Journal, as and where required.

    Status

    Signed - 18/06/2015

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Finland Education