Finland- The municipality of Espoo in Finland has successfully concluded the inaugural Finnish public-private partnership (PPP) financing endeavor dedicated to enhancing public education infrastructure. This pioneering project is led by Kumppanuuskoulut Oy, an entity established exclusively for this purpose. The venture focuses on facilitating the construction of eight schools and day-care centers, serving the educational needs of approximately 4000 children and young individuals in Espoo.
To actualize this ambitious plan, the European Investment Bank (EIB) has played a crucial role by contributing a EUR 60 million loan with a 21.5-year term under the European Fund for Strategic Investments (EFSI), an integral part of the Investment Plan for Europe. Additionally, the Nordic Investment Bank (NIB) has extended an equally significant long-term loan of up to EUR 75 million to support the project.
The groundbreaking agreement between Kumppanuuskoulut, the appointed service provider, and the City of Espoo signifies the commencement of the first municipal project in Finland utilizing the PPP model. The project is slated to unveil its facilities between 2022 and 2024, with Kumppanuuskoulut overseeing financing, planning, construction, and maintenance until the year 2042.
Meridiam, a prominent figure in infrastructure development, has successfully reached the financial close for designing, building, financing, and maintaining five schools and three daycare centers in Espoo. This venture, constituting the initial social Public-Private Partnership in the nation, aligns with Espoo’s broader investment initiative termed “Schools in shape.” The project aims to address approximately 15% of the identified requirements to ensure healthy and functional premises for schools and daycare centers in the city.
This innovative undertaking underscores Meridiam’s dedication to constructing sustainable and resilient social infrastructure, generating positive impacts on communities. Through collaboration with the public sector, Meridiam aims to significantly contribute to Espoo’s investment program, enhancing the learning environment for students and educators alike.
The Espoo Schools PPP Project is specifically designed to contribute directly to the United Nations Sustainable Development Goals, encompassing aspects such as providing access to quality health care services (SDG 3), enhancing energy efficiency (SDG 7), and building resilient infrastructure that fosters inclusivity and sustainability (SDG 9).
The project’s scope encompasses the design, construction, and maintenance of comprehensive and upper secondary school facilities, aligning with Espoo’s education strategy. This includes the creation of new school complexes, extensions, and refurbishments of existing schools, all aimed at modernizing the comprehensive and upper secondary school estate. The overarching objective is to cultivate an improved learning environment for students and teachers, aligning with the EU Horizon 2020 strategy.
The Espoo Schools PPP Project signifies a significant stride towards nurturing human capital and contributing to the knowledge economy in Finland. Supported by loans from EIB, NIB, and OP Corporate Bank, this transformative initiative is poised to leave a lasting impact on education infrastructure, reinforcing Espoo’s commitment to growth, employment, and inclusive development.
Source:
