25 Mar 2020
EUR 750 million
|Date of agreement:||16 Nov 2016|
|Customer:||Aalto University Foundation|
|Amount in EUR:||EUR 60 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 new Aalto University premises in Otaniemi in Espoo near Helsinki.
The project consists of two buildings with a total floor area of 43,000 square metres for the university’s School of Art, Design and Architecture and School of Business. Construction started in 2016 and is expected to be completed in 2019. This project is part of a larger investment programme to construct a new core campus for Aalto University.
Aalto University Foundation, operating as Aalto University, seeks to promote free research along with scientific and artistic erudition as well as to provide research-based higher education. The university is an autonomous, multidisciplinary science and art community that operates in the fields of technology, economics, art and design.
Centralising the university campuses is expected to make research and teaching activities more efficient as well as to offer students and researchers more opportunities for interdisciplinary collaboration. Furthermore, the new premises will allow for higher energy efficiency and more flexible teaching space solutions as well as reduce the university’s operating costs.
Education ranks among the most important ways to raise labour productivity across sectors in an economy. By contributing to the efficiency of learning processes, this project has the potential to marginally increase the return on students’ investments in education.
By gathering several university departments in the same area, the new campus will enable more efficient use of the premises. No significant negative environmental impacts are expected.