All agreed loans

Finland. The University of Helsinki Funds

Date of loan: 20 Jun 2011
Country: Finland
Customer: The University of Helsinki Funds
Amount in EUR: EUR 27 million
Maturity: 12 years
NACE sector / loan type: Higher education
Business area: Industries and services

Environmental effect

This loan contributes to climate change mitigation: 100%

Project

The 12-year-maturity loan totalling EUR 27 million has been provided for financing the construction of Finland's largest academic library.

The University of Helsinki is developing its library structures. Currently, the University Library's city centre campus has library facilities in 11 separate locations. Construction of a new city centre campus library, joining five faculty libraries to form a single administrative unit, began in 2010 and is expected to be completed in 2012.

The University of Helsinki Funds operates as a separate entity from the University of Helsinki, with the aim of supporting the university's operations, research, teaching and students.

Fulfilment of NIB's mandate

The project comprises important infrastructure investments aimed at promoting education, innovation and competitiveness and thereby growth and the economic development of Finland. The centralisation of the library services implies economies of scope and scale, helping the university reduce the cost of providing the support services and potentially add the value of the services for the students and researchers. In addition, the new building offers a modern rental space for local businesses. The rental revenues and revenues from sales of properties currently used as libraries will be used to finance research and teaching activities.

The energy savings created by the project will result in a decrease of some 2,000 tonnes of CO2 annually.

Sustainability summary

The University of Helsinki has a Sustainability Plan and the construction company SRV prepared an Environmental Management Plan for the construction works.

Press release

NIB rahoittaa Suomen suurinta akateemista kirjastoa

 

Press release

NIB finansierar det största akademiska biblioteket i Finland