NIB funds education centre in northern Finland

Photo: City of Rovaniemi.

NIB and the property developer Rovaseudun Markkinakiinteistöt Oy have signed a long-term, EUR 7.5 million loan agreement for the construction of an educational facility in Rovaniemi, northern Finland.

The 20-year-maturity loan will finance the construction of Ounasrinne, a new education centre in the town of Rovaniemi. The facility will provide class room space for school grades 1–9, as well as venues for residential services such as healthcare and immigrant adaptation programmes, a library and a day care centre.

The project will serve multipurpose operations and consist of architectural elements that can easily be modified for the required purpose. The design and construction of the centre will be carried out in 2015 to 2016.

The building will replace the old Ounasrinne School, which had to be demolished due to significant indoor air quality problems. The new facility is expected to improve the quality of school education in the Rovaniemi region and meet the increasing demand for improved infrastructure and services.

Rovaseudun Markkinakiinteistöt Oy is a real estate developer owned by the town of Rovaniemi. The company is responsible for project implementation and subsequent leasing of the new facilities to public and private service providers.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact
Tarja Kylänpää, Senior Director, Origination, at +358 10 618 0237,

Lisa-Maria Altenberger, Communications Unit, at +358 10 618 0234,