Thousands of Finnish children to get state of the art schools with EIB loan to Tuusula municipality

• EIB lends €105 million to Finnish municipality Tuusula to construct school complexes for 3,500 children
• EIB financing for educational premises north of capital Helsinki covers more than 60% of project cost
• Pledge marks EIB's first venture with smaller Finnish municipalities and highlights bank's commitment to sustainability and climate action

The European Investment Bank (EIB) is lending the Municipality of Tuusula in Finland €105 million to construct school complexes, marking the bank's first venture with smaller Finnish municipalities.
The municipality, located half an hour north of Helsinki by car, will use the loan to build new facilities for pre-primary, primary and secondary schools.

The buildings to be constructed will be located on three new school premises - in the Riihikallio, Rykmentinpuisto and Lahela neighbourhoods. The new buildings will serve around 3,500 students between the ages of one and 18. The EIB loan covers 64% of the project costs, facilitated by the project's alignment with the EIB Energy Lending Policy for energy-efficient buildings. The project aims to meet and exceed Europe's highest energy-efficiency standards.

"I am pleased to be here in Tuusula today to sign this important financing agreement with the municipality of Tuusula, aimed at supporting educational infrastructure," said EIB Vice-President Thomas Östros. "This project exemplifies the EIB's commitment to sustainable and innovative learning environments. It is an investment for the future."

The project is due to be completed by 2029. The loan offers flexible terms, allowing Tuusula to align financing with the infrastructure's economic lifespan and to diversify funding sources beyond commercial banks.

The project supports Finland's educational priorities by improving learning environments for a growing and diverse student population. It also aligns with the European Education Area 2025 initiative to ensure high-quality educational infrastructure. Additionally, the project contributes to environmental sustainability, social cohesion and economic growth.

"The EIB's decision is excellent news. With the help of the loan promise, we can continue our reform of the service network and do it as efficiently as possible. We are very pleased to have EIB as a financial partner with operations guided by sustainable values - just like here in Tuusula", said the Mayor of Tuusula Kalle Ikkelä.

The EIB loan to Tuusula builds on previous commitments by the bank to enhance Finland's educational infrastructure and sustainability. This includes support for new facilities in Helsinki, Lahti, and Turku. Over the past five years, the EIB has supported the education sector in Finland with a total of €864.5 million.

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.

Public link

Please use the above public link if you want to share this noodl on another website.