TURKU EDUCATION INFRASTRUCTURE

Promoter – Financial Intermediary

TURUN KAUPUNKI

Location

• Finland

Description

The project comprises new construction and major renovations of the education infrastructure of the City of Turku, the sixth largest city in Finland. The sub-projects are located in different parts of the city and accommodate different levels of education from pre-primary and primary education to secondary and adult-learning including some supporting, sporting and cultural facilities.

Additionality and Impact

The new and upgraded infrastructure financed by the EIB will accelerate the modernisation of teaching and learning environments in terms of pedagogical fit, energy efficiency, quality, health and safety, improving the provision of ECEC and basic education. Through the support to education activities, the Project will favour positive externalities, including inclusive economic growth and increased productivity knowledge externalities, as well as climate and environmental externalities. 

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 continued diversification of its funding sources.

Objectives

By contributing to the modernisation and adaptation of school infrastructure in both early childhood education and care and basic education, the Project aims to improve the quality of education in Turku and, more broadly, in Finland, and a better allocation of resources in the education sector. A good level of education and a good quality of education accessible to all are essential for the economic, social and intellectual development of a country. Given the economic and social consequences of the global health crisis, the role of education is even more important in improving the living conditions and economic and social opportunities of young populations. The project is in line with national and local priorities in education. Following the new national curriculum introduced in 2016, Finland has been undergoing one of the most ambitious school redesign projects in Europe, exchanging traditional walled-in classrooms and rows of desks for more flexible and informal open-plan layouts. The Project is also fully aligned with the EU priorities and objectives. The Project is consistent with the European Education Area 2025 strategy. Additionally, the Project is expected to improve the energy efficiency of the Turku's education estate by providing more efficient new educational facilities and by renovating existing ones.

Sector(s)

• Education - Education

Proposed EIB finance (Approximate amount)

EUR 190 million

Total cost (Approximate amount)

EUR 405 million

Environmental aspects

Council Directive 2011/92/EU as amended by Directive 2014/52/EU on Environmental Impact Assessments (EIA) does not specifically cover educational activities, leaving it at the discretion of the responsible national authorities to request an EIA on the basis of the location and scale of the works concerned. However, schools and educational infrastructure are likely to fall under Annex II of EIA Directive 2014/52/EU 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. Social and environmental aspects including the project's potential impact to protected areas or species as well as any aspects related to historical and cultural heritage will be verified during the appraisal.

Procurement

The EIB 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 - 21/12/2022