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Sun June 20 2021

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Financing clears way for new Finnish school

24 Mar 16 The Nordic Investment Bank has signed a loan agreement worth €12m (£9m) for the the construction of a multipurpose school and community centre in the city of Kajaani in northern Finland.

The new school will provide primary education for up to 800 pupils. It will replace three existing schools in the area. As well as the classrooms, the new facility will host a day care centre for 84 children and a library that will also function as a public library.

The €24m overall project is due for completion at the end of 2017.

“NIB has financed new education and community centres in a number of municipalities in Finland in recent years,” said Henrik Normann, NIB president and CEO. “Improving the quality of municipal services and availability of modern, energy-efficient facilities has a tangible positive effect on quality of life, which is closely related to the competitiveness of local communities and the country as a whole.”

The capital of the Kainuu region 550 kilometres north of Helsinki, Kajaani is home to 38,000 inhabitants.

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