12 Dec 2018
EUR 100 million
Infrastructure, transportation and telecom
NIB and the city of Kauhava in western Finland have signed a EUR 10 million loan agreement for the construction of a new school and the extension of daycare facilities. The maturity of the loan is 20 years.
The new school is the largest investment in the history of Kauhava, and it will bring under the same roof most of the municipality’s educational services. It will offer education to 750 schoolchildren in a modern and flexible learning environment that meets the requirements of the new Finnish national core curriculum for basic education.
The new school is also an energy-efficient building with its own solar power system installed on the roof. The targeted energy performance level of the school centre is 13% lower what is currently required by law for educational buildings in Finland. The total energy use is estimated to decrease annually by 2,200 MWh, and both electricity and heat consumption will be cut by half. The installed solar power system will generate 160 MWh of electricity annually.
The total amount of the new school investment is approximately EUR 20 million. Construction work started in April 2018, and it is scheduled to be completed in autumn 2020.
Besides the new school, the NIB loan will also fund the extension of two daycare facilities. When the expansion work is completed, the new day care centres will be able to host around 60 children.
Kauhava is a town of 17,000 residents. It was formed on 1 January 2009 by the merger of four municipalities—Alahärmä, Kauhava, Kortesjärvi and Ylihärmä–making it the third largest municipality in South Ostrobothnia.
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
Mr Olli Lempiäinen, Senior Manager Origination, at +358 10 618 0525, firstname.lastname@example.org
Ms Niina Rantti, Communications Officer, at +358 10 618 0265, email@example.com