3 Jul 2020
EUR 60 million
Financial institutions and SMEs
|Date of agreement:||23 Mar 2016|
|Customer:||City of Kajaani|
|Amount in EUR:||EUR 12 million|
|NACE sector / loan type:||Construction|
|Business area:||Infrastructure, transportation and telecom|
This loan contributes to climate change mitigation: 100%
The loan has been provided for the construction of a multipurpose school in the city of Kajaani. The new school, with a capacity of 800 pupils (primary education), will replace three existing schools in the area and have a day care centre for 84 children, a library and a kitchen. The older schools have reached the end of their life cycles and will be demolished. The new library will also function as a public library. The school building will utilise technologies for better energy efficiency. The construction of the school facilities is expected to be completed in spring 2016, and the rest of the project by the end of 2017. The total project cost is estimated to EUR 24 million.
Kajaani is situated in northern Finland, 550 kilometres north of Helsinki, and has 38,000 inhabitants.
The new multipurpose school is expected to have a positive impact on the quality of primary education in the region. Investments in education at early stages of the learning process have considerable effects on skills development at later stages in life. The combination of educational, day care and food services will imply some economies of scope and scale for the public service providers and households in the area.
The project is estimated to reduce energy use and CO2 emissions. The project is not expected to have any negative environmental impact.