EIB provides 150 million euro loan for Finnish research and education infrastructure

June 1, 2005

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.

For further information, please consult the following web address:

CORDIS RTD-NEWS / © European Communities
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