EDUCATION MONTPELLIER

Promoter – Financial Intermediary

VILLE DE MONTPELLIER

Location

• France

Description

The project will finance the renovation, extension and new construction of public pre-primary and primary education facilities in the city of Montpellier.

Additionality and Impact

The project concerns the renovation, extension and new construction of public pre-primary and primary education facilities in the city of Montpellier. Such investments will accelerate the modernisation of teaching and learning environments and practices in pre-primary and primary education, which is then expected to translate into quality improvements, creating positive externalities with significant benefits in the short and long term, mainly in terms of skills development and upgrading but also improved social cohesion and economic growth. Additionally, the investments targeting climate change mitigation will also have positive externalities, as they contribute to the construction of a more sustainable future.

The Project contributes to the EIB's "Innovation, Digital and Human Capital" Public Policy Goal and "Climate Action and Environmental Sustainability" cross-cutting objective. It is fully aligned with the objectives of the EU's European Education Area 2025 initiative and with the national, regional and municipal priorities in education. In particular, the Project contributes to the city's strategic education plan "Plan école 2030". Furthermore, 100% of the Project's investments support the strengthening of the EU's economic, social and territorial cohesion.

The EIB financing attractive terms and conditions (long maturity, long availability / grace periods, flexible interest rates / disbursements / repayments) cannot be found on the market. In addition, the Bank financing helps diversify the borrower funding structure and lower its average cost of funding

Objectives

The main objectives are to provide a better learning environment for the youngest students, by upgrading the public education infrastructure, to adapt the pre-primary and primary school network to changes in the local demand and to improve the energy performance of Montpellier's school stock.

Sector(s)

• Education - Education

Proposed EIB finance (Approximate amount)

EUR 100 million

Total cost (Approximate amount)

EUR 203 million

Environmental aspects

Directive 2011/92/EU as amended by Directive 2014/52/EU on Environmental Impact Assessment (EIA) does not specifically cover educational activities although educational facilities may fall under Annex II of the Directive with respect to Urban Development. The EIB will verify during appraisal whether an EIA is required by the competent authority. The public buildings will be required to meet at least 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. The project will be appraised and monitored in line with the Bank's policies, including the Environmental and Social Sustainability Framework.

Procurement

The Bank will require the promoter to ensure that contracts for implementation of the project have been and 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.

Status

Signed - 9/10/2024