HELABA NGN

Promoter – Financial Intermediary

STADT NUERNBERG

Location

• Germany

Description

The project will finance the renovation and extension of the New Grammar School Nuremberg (NGN), a secondary school for 1025 students in the City of Nuremberg. It will be implemented by WBG Kommunal GmbH, a public housing construction company of the City of Nuremberg.

Additionality and Impact

The proposed operation supports the renovation and extension of a public secondary school in Germany. The project addresses a market failure with regard to the provision of public education, which creates positive externalities for the economy and society without generating financial returns to the investor, justifying public intervention.

By being able to offer stable and long-term funding at competitive rates, a financial advantage is generated through the EIB's intervention which is transferred partially to the final beneficiary, for example in the form of reduced interest rate payable.

Objectives

The renovated and extended school building will be designed to enable the implementation of new competence-centred pedagogical concepts and will include a theatre and art and craft rooms, with the aim to foster pupils' acquisition of a wide range of skills. The school is planned as a low-energy building with an energy efficiency above the regulatory requirements. The installation of photovoltaic systems is foreseen on all possible roof surfaces.

Sector(s)

• Education - Education

Proposed EIB finance (Approximate amount)

EUR 50 million

Total cost (Approximate amount)

EUR 110 million

Environmental aspects

Directive 2011/92/EU amended by 2014/52/EU on Environmental Impact Assessment (EIA) does not specifically cover educational activities, leaving it at the discretion of the responsible competent authorities to request an EIA on the basis of the location and scale of the works concerned. However, educational facilities may fall under Annex II of the Directive with respect to Urban Development. The Bank's services will verify during appraisal whether an EIA is required by the competent authority. 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 and Directive 2012/27/EU on energy efficiency.

Procurement

In accordance with the Bank's policy to ensure that the loan complies with the EU acquis, in particular in the fields of public procurement, the Bank will require such intermediary institution to take all requisite measures to ensure that the procurement procedures carried out by the final beneficiary for the project that the Bank finances will comply with the relevant EU legislation and the applicable national legislation, provided that it is in conformity with EU rules.

Status

Signed - 25/06/2024