Finland. City of Lahti
|Date of agreement:||17 Dec 2018|
|Customer:||City of Lahti|
|Amount in EUR:||EUR 10 million|
|NACE sector / loan type:||Construction|
Financing from NIB Environmental Bond proceeds
NEB-eligible share: 100%
NEB category: Energy efficiency
Amount disbursed: EUR 10 million
Note: For loans in other currencies than EUR, the equivalent in EUR is based on the exchange rate effective for the disbursement. Read more about the NIB Environmental Bonds
The loan has been provided to finance a municipal school and pre-school investment programme that includes the construction of three new educational centres (Laune, Rakokivi and Humpula) as well as the extension and renovation of two existing school facilities (Kivimaa and Länsiharju) in the city of Lahti in southern Finland.
The investment programme will improve educational conditions for around 3,300 children in school and in pre-school facilities. The total amount of the investment is EUR 100 million, covering the project work in 2017–2022.
The number of children in schools and day care centres has increased in the educational district, and this growth is estimated to continue in the coming years. In addition to rising demand, the need for investment has increased because of the aging day-care centres, which require renovation, and a reduction in the number of family day care providers.
Lahti is a city of 120,000 residents and the centre of a region of 200,000 people.
Fulfilment of NIB's mandate
The project consists of building five new educational facilities. The new buildings are equipped with modern learning facilities that have better capacity to meet new educational standards. The improvements will have positive impacts on the academic and labour market outcomes of the region’s children, especially, in early education and on children with less-advantaged socioeconomic backgrounds.
With this investment, Lahti is also targeting improved energy efficiency and reduced energy usage in the educational facilities. The improved energy efficiency will be achieved through improving thermal insulation, utilising modern technical efficiency solutions and installing LED lighting.
NIB has assessed that new construction solutions will decrease the buildings’ total energy use by 4.1 GWh, and the energy efficiency gains are approximately 40%.
The project has been assessed as not having significant negative environmental or social impacts.