EIB Provides €105 Million Loan to Tuusula Municipality for Energy-Efficient School Complexes

EIB Provides €105 Million Loan to Tuusula Municipality for Energy-Efficient School Complexes

(IN BRIEF) The European Investment Bank (EIB) has provided a €105 million loan to the Municipality of Tuusula in Finland to construct energy-efficient school complexes for 3,500 students. The project, spanning three neighborhoods, aims to create modern educational spaces aligned with the EIB’s Energy Lending Policy. Covering 64% of the total costs, the project supports Finland’s educational priorities and the European Education Area 2025 initiative while promoting sustainability, social cohesion, and economic growth. Scheduled for completion by 2029, the initiative marks the EIB’s first collaboration with smaller Finnish municipalities and builds on its broader commitment to Finland’s educational infrastructure.

(PRESS RELEASE) LUXEMBOURG, 21-Nov-2024 — /EuropaWire/ — The European Investment Bank (EIB) has announced a €105 million loan to Finland’s Municipality of Tuusula to support the construction of energy-efficient school complexes for pre-primary, primary, and secondary students. This initiative, the EIB’s first collaboration with smaller Finnish municipalities, reflects its commitment to sustainable development and climate-conscious investments.

Located north of Helsinki, Tuusula will use the funding to build three school campuses in the Riihikallio, Rykmentinpuisto, and Lahela neighborhoods, designed to accommodate approximately 3,500 students aged 1 to 18. Covering 64% of the project’s total cost, the loan aligns with the EIB’s Energy Lending Policy, which emphasizes energy efficiency in new infrastructure.

“This partnership demonstrates the EIB’s dedication to fostering sustainable and innovative educational spaces,” said EIB Vice-President Thomas Östros. “We are proud to support a project that not only addresses the educational needs of Finland’s growing population but also sets a benchmark for energy-efficient construction.”

The project, scheduled for completion by 2029, ensures flexible financing terms to match the infrastructure’s long-term economic lifespan while diversifying funding beyond commercial banking sources. In addition to creating modern learning environments, the initiative supports the European Education Area 2025 framework, contributing to social cohesion, economic growth, and environmental sustainability.

Tuusula Mayor Kalle Ikkelä welcomed the EIB’s involvement: “This loan allows us to advance our service network reforms efficiently and sustainably. Partnering with the EIB, an institution guided by values closely aligned with ours, ensures the success of this transformative project.”

This partnership builds on the EIB’s broader efforts to enhance Finland’s educational infrastructure. Over the past five years, the bank has invested €864.5 million in Finnish education projects, including facilities in Helsinki, Lahti, and Turku. The Tuusula initiative exemplifies the EIB’s role in supporting local communities while advancing Europe’s energy and sustainability goals.

Background information

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances sound investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.

The EIB Group, which also includes the European Investment Fund (EIF), signed a total of €88 billion in new financing for over 900 projects in 2023. In 2023 the Bank’s investments included more than €21 billion as part of REPowerEU, an initiative designed to reduce Europe’s dependence on fossil fuels and accelerate the green transition.

All projects financed by the EIB Group are in line with the Paris Climate Accord. The EIB Group does not fund investments in fossil-fuels. We are on track to deliver on our commitment to support  €1 trillion in climate and environmental sustainability investment in the decade to 2030 as pledged in our Climate Bank Roadmap. Over half of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.

In 2023, the EIB Group pledged almost €1 billion in financing for new projects in Finland, supporting investment worth nearly €4.4 billion. This is part of the nearly €8 billion of EIB Group financing provided in the country over the past five years.

Tuusula

The municipality of Tuusula is located in Central Uusimaa, about half an hour’s drive from Helsinki. Helsinki-Vantaa airport with its international connections can be easily and quickly reached from Tuusula. Founded in 1643, Tuusula is today a vibrant and attractive settlement with population growth rate as one of the fastest in Finland. Currently, Tuusula has approximately 42,000 inhabitants.

There are three centers in the municipality: Hyrylä, Jokela and Kellokoski. Tuusula is also known as an artists’ retreat from the golden age of Finnish art, when several world-renowned artists had their apartments or summer residences there.

The rapidly developing Tuusula is currently implementing the largest investment program in its history. As part of this program, many new schools and kindergartens are being built. Several sites have already been completed in this extensive project, the most recent ones being the Tuusulanjärvi campus and the high school and cultural center Monio, which also was the venue for the loan agreement signing event. These healthy, safe and versatile properties will support the attractiveness, growth and well-being of Tuusula.

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SOURCE: European Investment Bank