🇫🇮 NIB finances campus developments at Aalto University
NIB and the Aalto University Foundation have signed a fifteen-year loan agreement of EUR 45 million to finance the construction and renovation of Aalto University campus buildings in Espoo, Finland.
The financing will support the Aalto University Foundation investments during 2023–2024, which include several projects that aim to enhance higher education and research, while creating new platforms for cross-disciplinary work and collaboration between businesses and academia.
As part of the investments, the K3 building has undergone a renovation and an extension with a newly constructed building. It is part of a lager campus development plan that centralised the university’s core activities in the main campus area.
Moreover, the investments include the construction of two new buildings – Marsio and Kide – state-of-the-art multifunctional facilities equipped with new digital technologies enabling cross-disciplinary research and teaching.
Finally, the investments involve a new multi-storey carpark, Otaparkki, to serve the Aalto University community and campus visitors. The building provides parking spaces for about 260 cars, and hosts charging stations for electric vehicles.
Construction works for the K3 and Kide buildings as well as the multi-storey carpark were completed in 2023, and the Marsio building will be completed this year.
This is already NIB’s third loan to the Aalto University Foundation. In 2013, the Bank financed the construction of the Open Innovation House and the renovation of the Undergraduate Centre. In 2016, NIB provided a loan for the construction of the university’s School of Arts, Design and Architecture main building Väre, as well as the new main building for the Aalto University School of Business.
Aalto-korkeakoulusäätiö sr (Aalto University Foundation) forms a group, which owns and operates Aalto University. Aalto University cooperates with other universities, as well as research institutes and corporations.
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:
Taina Ulkoniemi, Senior Banker, Infrastructure, at +358 10 618 0231, [email protected]
Vytautas Brazaitis, Communications Officer, at +358 10 618 0235, [email protected]
Originally published on 28 March by Nordic Investment Bank.
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