All agreed loans

Finland. City of Jyväskylä

Date of loan: 6 Jun 2018
Country: Finland
Customer: City of Jyväskylä
Amount in EUR: EUR 20 million
Maturity: 20 years
NACE sector / loan type: Construction
Business area: Infrastructure, transportation and telecom

Project

The loan has been provided to finance the construction of three new pre-school facilities, namely Korpilahti, Kukkumäki and Kangasvuori, as well as the expansion and renovation of an existing school, Kuokkala, in the city of Jyväskylä, central Finland.

The new facilities will replace older buildings that have been demolished, and provide modern learning landscapes for 1,940 pre-school and school children in the region.

The new schools will offer multi-purpose classrooms that allow for more flexible and adaptable space solutions, and support self-directed and co-operative learning activities. This is in line with Finland’s renewed national core curriculum.

The investment programme covers construction and renovation work during 2016–2019.

Jyväskylä has a population of approximately 140,000 and is the largest city in central Finland. The region is the fastest growing in the country, and an important educational centre.

Fulfilment of NIB's mandate

Productivity:

It is estimated that the demand for child care in Jyväskylä will increase by eight per cent until 2025. Further, the overall student population in the compulsory education range is expected to grow by 14 per cent. Investments in early childhood development and high-quality education have been identified as a substantial growth strategy in the region.

Environment:

The new buildings are replacing older facilities that were demolished due to bad air quality, and are planned to comply with current national building standards in terms of energy efficiency.

Sustainability summary

The city of Jyväskylä does not have certified management systems for environmental and occupational health and safety, but is preparing separate construction plans that include relevant environmental aspects. All construction permits are expected to be in place by autumn 2017.

Press release

NIB rahoittaa uusia koulurakennuksia Jyväskylässä