CEB and City of Marseille Secure €200 Million Loan for Major School Renovation Project

CEB and City of Marseille Secure €200 Million Loan for Major School Renovation Project

(IN BRIEF) The Council of Europe Development Bank (CEB) has signed a €200 million loan agreement with the City of Marseille to fund a major renovation of the city’s public primary schools. This loan is part of the €1.5 billion Schools Plan aimed at modernizing 470 schools over the next decade, focusing on energy efficiency, accessibility, and improved learning environments. The project will have a significant impact on social integration, especially in areas undergoing urban regeneration. The first 18 schools are set to open between September 2024 and spring 2025, with further waves of construction and renovation already underway.

(PRESS RELEASE) MARSEILLE , 27-Nov-2024 — /EuropaWire/ — The Council of Europe Development Bank (CEB) and the City of Marseille have officially secured a €200 million loan to fund a critical renovation and construction project for public primary schools. This agreement, signed by CEB Governor Carlo Monticelli and Pierre-Marie Ganozzi, the Deputy Mayor responsible for the Schools Plan, is part of a broader initiative to modernize the city’s educational infrastructure.

This effort is integral to the ambitious €1.5 billion Schools Plan, which was first introduced by Mayor Benoît Payan in 2021 to overhaul the city’s 470 primary schools. The CEB’s contribution is aimed at renovating 188 schools and enhancing both energy efficiency and accessibility. As part of the broader “Marseille en Grand” plan, the French government is also providing substantial support, including €400 million in direct funding and €650 million in loan guarantees.

Spanning a period from 2021 to 2031, the Schools Plan is divided into seven phases of construction and renovation. In the upcoming academic year, 18 schools are expected to open as part of the first wave, with additional schools already under development for the second and third waves.

Governor Monticelli emphasized the importance of this project for Marseille’s future, stating, “Our support for this transformative initiative aligns with the CEB’s social mandate to promote inclusivity and enhance public services.” The project is expected to not only improve the educational environment for students but also drive social integration, particularly in areas undergoing urban renewal. The renovations will also positively impact the neighborhoods surrounding the schools.

Pierre-Marie Ganozzi underscored the historic nature of the plan, which he described as a monumental effort to ensure that every child in Marseille has access to a dignified learning space.

About the CEB
The Council of Europe Development Bank (CEB) is a multilateral development bank, whose unique mission is to promote social cohesion in its 43 member states across Europe. The CEB finances investment in social sectors, including education, health and affordable housing, with a focus on the needs of vulnerable people. Borrowers include governments, local and regional authorities, public and private banks, non-profit organisations and others. As a multilateral bank with an excellent credit rating, the CEB funds itself on the international capital markets. It approves projects according to strict social, environmental and governance criteria, and provides technical assistance. In addition, the CEB receives funds from donors to complement its activities.

About the Société Publique des Ecoles Marseillaises (SPEM)
The Société Publique des Écoles Marseillaises (SPEM) is a Société Publique Locale d’Aménagement d’Intérêt National (SPLAIN), created on 3 February 2022. It is dedicated to implementing Marseille’s Schools Plan by overseeing the renovation of 188 schools in the city. Chaired by Benoît Payan, Mayor of Marseille, its capital is equally owned by the State and the City of Marseille.

Media Contact:

Aurélien DAVID
Responsable communication et concertation
a.david@splain-ecolesmarseillaises.fr
Tel.: +33 6 80 98 99 62

SOURCE: CEB