EIB finances €425 million to renovate 477 primary schools in Marseille under Marseille en Grand programme

EIB finances €425 million to renovate 477 primary schools in Marseille under Marseille en Grand programme

(IN BRIEF) The European Investment Bank (EIB) has signed two financing agreements worth €425 million to modernise 477 primary schools in Marseille, supporting France’s Marseille en Grand initiative. The funding includes a €340 million loan to the Société Publique des Ecoles Marseillaises (SPEM), guaranteed by the French state to renovate 188 schools, and an €85 million loan to the City of Marseille for the rehabilitation of 289 schools. Over the next seven years, more than 129,000 m² of school infrastructure will be upgraded or rebuilt, improving energy efficiency, safety, and teaching conditions for around 30,000 pupils. The agreements were signed by EIB Vice-President Ambroise Fayolle, Mayor Benoît Payan, and Regional Prefect Georges-François Leclerc. The project marks the first direct EIB financing operation for Marseille and represents a significant step toward modern, sustainable, and inclusive education facilities.

(PRESS RELEASE) LUXEMBOURG, 25-Aug-2025 — /EuropaWire/ — The European Investment Bank (EIB) has strengthened its commitment to education in France by signing two major financing agreements to renovate and modernise Marseille’s primary schools. The loans, worth a combined €425 million, will support large-scale improvements to 477 schools across the city over the next seven years, benefitting around 30,000 pupils — roughly one in four of Marseille’s primary school children.

The financing is part of the French government’s Marseille en Grand initiative, a €5 billion investment programme launched in 2021 to revitalise the country’s second-largest city. Of the total support, €340 million has been allocated to the Société Publique des Ecoles Marseillaises (SPEM), a development company jointly owned by the French state and the city of Marseille. SPEM is tasked with renovating 188 schools, with the loan guaranteed by the French government, ensuring highly favourable financing conditions. This funding is also complemented by InvestEU advisory services to help identify additional grant opportunities.

A second loan of €85 million will go directly to the City of Marseille, which is leading the rehabilitation of 289 schools under its Plan Ecoles. Together, these efforts will modernise more than 129,000 m² of school facilities, improving energy performance, safety standards, accessibility, and overall teaching and learning conditions. Many schools will be rebuilt or significantly upgraded to create sustainable, climate-friendly infrastructure.

The loan agreements were formalised in Marseille in the presence of EIB Vice-President Ambroise Fayolle, Marseille Mayor Benoît Payan, Regional Prefect Georges-François Leclerc, and European Commission representatives. The signing ceremony was followed by a visit to the Saint Louis Campagne Lévêque primary school, which will undergo extensive refurbishment as part of a broader urban renewal programme.

Ambroise Fayolle emphasised the importance of this investment, noting: “More modern, energy-efficient schools are a real asset for a growing city like Marseille. This first direct EIB financing for the city is a forward-looking investment in the future of its children.”

Mayor Benoît Payan underlined that the project marks a turning point after years of neglect, stating: “Education is our top priority, and with these investments, we are laying the foundation for equal opportunities and a modern, ecological public school system for all.”

Nicolas Andreatta, Director of SPEM, highlighted that nearly 200 schools will be transformed over the next decade, offering safe, energy-efficient, and welcoming environments for pupils. Prefect Georges-François Leclerc added that the state has already allocated €650 million in guarantees and €400 million in subsidies to SPEM, underlining the national government’s commitment to ensuring children in Marseille have the best possible conditions for learning and success.

Through this large-scale transformation, Marseille’s schools will become greener, safer, and better equipped to serve future generations, ensuring that education remains a cornerstone of the city’s development.

Background information

About the European Investment Bank

The EIB is the long-term lending institution of the European Union, owned by the Member States. Working around eight core priorities, the Bank supports investments that help achieve major EU objectives. The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security. In France, the EIB Group signed more than 100 agreements in 2024, totalling €12.6 billion. Nearly 60% of annual EIB Group financing supports projects that help fight climate change and improve climate change adaptation.

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SOURCE: European Investment Bank