NIB Partners with Aalto University Foundation to Enhance Campus Infrastructure in Espoo, Finland

NIB Partners with Aalto University Foundation to Enhance Campus Infrastructure in Espoo, Finland

(IN BRIEF) Nordic Investment Bank (NIB) and Aalto University Foundation sign a EUR 45 million loan agreement for the construction and renovation of Aalto University campus buildings in Espoo, Finland. The funding supports projects aimed at enhancing higher education, research, and cross-disciplinary collaboration with businesses. Projects include renovating the K3 building, constructing new facilities like Marsio and Kide, and building a multi-storey carpark, Otaparkki. This marks NIB’s third loan to Aalto University Foundation. Aalto University Foundation owns and operates Aalto University, collaborating with various entities for innovation and academic excellence.

(PRESS RELEASE) HELSINKI, 28-Mar-2024 — /EuropaWire/ — The Nordic Investment Bank (NIB), an international financial institution with focus on the Nordic and Baltic countries, and the Aalto University Foundation have entered into a fifteen-year loan agreement worth EUR 45 million. The financing will support the construction and renovation of Aalto University campus buildings in Espoo, Finland, spanning from 2023 to 2024.

The investment aims to bolster higher education and research initiatives while fostering collaboration between academia and businesses. Key projects include the renovation and extension of the K3 building, along with the construction of two new state-of-the-art facilities, Marsio and Kide, equipped with advanced digital technologies for interdisciplinary research and teaching.

Additionally, the financing covers the construction of a new multi-storey carpark, Otaparkki, providing parking for approximately 260 cars and equipped with electric vehicle charging stations.

Construction of the K3 and Kide buildings, as well as the multi-storey carpark, was completed in 2023, with the Marsio building set for completion this year.

This marks NIB’s third loan to the Aalto University Foundation, following previous financing for projects including the Open Innovation House and the School of Arts, Design, and Architecture main building Väre.

Aalto-korkeakoulusäätiö sr (Aalto University Foundation), which owns and operates Aalto University, collaborates with other universities, research institutes, and corporations to drive innovation and academic excellence.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact:
Taina Ulkoniemi, Senior Banker, Infrastructure, at +358 10 618 0231, taina.ulkoniemi@nib.int
Vytautas Brazaitis, Communications Officer, at +358 10 618 0235, vytautas.brazaitis@nib.int

SOURCE: Nordic Investment Bank