Brussels, 31 May 2005
The European Investment Bank (EIB) has signed a 150 million euro loan with the Finnish State enterprise Senate Properties for the construction of new higher education and research facilities, and the extension and upgrading of existing infrastructures.
A total of over 130 individual schemes located throughout Finland will benefit from the EIB financing, and these facilities are expected to make a significant contribution to the recently adopted national strategy for research and higher education.
This is the EIB's third loan to Senate, and its Finnish vice president said: 'It is a great pleasure to further our cooperation with Senate. The EIB's approach to the implementation of the Lisbon strategy is focused on the links between knowledge creation and the market. I feel strongly that this loan will contribute to the economic development of the country and will strengthen Finland's drive to be a European leader in innovation.'
Aulis Kokvakka, managing director of Senate, responded: 'The continuation of our cooperation with EIB is much welcomed by us and provides us with a welcome diversification of our funding.'
According to the EIB, this initiative and others like it 'confirms the commitment of the EU's long-term investment arm to the EU-wide Lisbon strategy.' The EIB plans to lend up to 50 billion euro for education, research, development and innovation projects by the end of the decade.
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