The European Investment Bank (EIB) has inked a 25-year financing deal worth €72 million aimed at bolstering the revamp of educational facilities in France and aligning them with local demand, with the goal of enhancing the quality of education.
In a statement released by the EIB, it was highlighted that this loan will contribute to enhancing the infrastructure in over 12 secondary schools, focusing on digital transformation, improving sports facilities, and installing solar panels.
The statement emphasized that the schools will operate with energy efficiency, enabling the achievement of goals to reduce energy consumption and realize cost savings in operations while adapting to climate change.
This initiative underscores the commitment to modernize educational spaces, ensuring they meet the evolving needs of students and educators while promoting sustainability and environmental responsibility.
Investment in educational infrastructure is crucial for fostering a conducive learning environment and enhancing the overall educational experience, aligning with broader efforts to drive socio-economic development and address pressing global challenges.
Thomas Ostros, Vice-President of the EIB, recently announced the bank’s ambition to pursue climate-related investments across Africa.
In an interview with Bloomberg TV’s Jennifer Zabasajja, Ostros emphasized the importance of long-term, viable investments that have the potential to spur economic growth.
The EIB, a key developmental bank, is currently involved in several projects in East and South Africa. Notable initiatives include the electrification of Nairobi’s bus transport system and enhancing food security in Zambia.
The bank has also committed 1 billion euros ($1.09 billion) to aid South Africa’s transition away from coal dependency.
