EIB Provides €81 Million Loan for Nuremberg School’s Green Transition

EIB Provides €81 Million Loan for Nuremberg School’s Green Transition

(IN BRIEF) The Martin-Behaim-Gymnasium grammar school in Nuremberg is set to transition into a new, eco-friendly building thanks to an €81 million loan from the European Investment Bank (EIB). This state-of-the-art facility, constructed with wood and equipped with solar panels, aims to accommodate 1,500 students and 160 teachers by 2026. With additional financing from Helaba Landesbank Hessen-Thüringen, Sparkasse Nürnberg, WBG Kommunal GmbH, and the state of Bavaria, the project’s total funding reaches €175 million. The initiative underscores the growing need for sustainable infrastructure in rapidly expanding urban areas like Nuremberg, addressing both educational requirements and environmental concerns.

(PRESS RELEASE) LUXEMBOURG, 27-Feb-2024 — /EuropaWire/ — The European Investment Bank (EIB) is providing an €81 million loan to Helaba Landesbank Hessen-Thüringen for the construction of a state-of-the-art school building in Nuremberg. Helaba, together with Sparkasse Nürnberg, housing company WBG Kommunal GmbH and the state of Bavaria, is contributing additional funding to the total project-financing of €175 million.

Martin-Behaim-Gymnasium’s new building will be made of wood, be completed by 2026 and serve 1,500 pupils and 160 teachers. A canteen and sports hall with large outdoor facilities will also be built. The near-zero energy complex will have solar panels for electricity and a geothermal system for heating and cooling. Contractors will also work with recycled concrete salvaged from the previous building.

Helaba has years of experience in school-construction financing. It often provides financing for educational institutions in Austria, Ireland and the United Kingdom via public-private partnerships involving private companies that retain ownership of the schools and receive payment from municipalities for operation and maintenance. The EIB has also supported new school campus projects in Austria set up via public-private partnerships.

“Education needs suitable spaces contributing to a creative learning environment,” said EIB Vice-President Nicola Beer, who oversees financing in Germany. “The EIB is pleased to back projects for school buildings that pupils want to use and that also cater for a wide range of sports and leisure activities in addition to teaching.”

Nuremberg is a rapidly growing metropolitan area with an urgent need for additional schools, particularly all-day ones.

“We are delighted that — together with the EIB — we have once again been able to help the city of Nuremberg implement a modern and particularly sustainable project on the back of our many years of expertise in financing social infrastructure projects,” said Sabine Möller, head of asset finance at Helaba Landesbank Hessen-Thüringen.

Background information

EIB

The European Investment Bank (ElB) 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. These commitments are expected to mobilise around €320 billion in investment, supporting 400 000 companies and 5.4 million jobs.

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.

Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower. This underscores the Bank’s commitment to fostering inclusive growth and the convergence of living standards.

Helaba

One of the leading banks in the German financial capital of Frankfurt am Main, Helaba Group employs approximately 6 300 people and has total assets of €212.4 billion. It offers a complete range of financial services from a single source for companies, banks and institutional investors. Sustainable business practices have long been established in Helaba’s business model and go hand in hand with its mandate to operate in the public interest. The aim is to support customers with a range of expert environmental, social and governance advisory services and suitable financing on their own journey towards a sustainability transformation. Beyond finance, Helaba Group also engages in many areas of public life by sponsoring ground-breaking cultural, educational, environmental, sports and social projects.

Media Contact:

Donata Riedel
d.riedel@eib.org
+352 4379 – 86192

Press Office
press@eib.org
+352 43791

SOURCE: European Investment Bank