Austria: EIB supports new green education campus in Vienna
The new campuses will provide additional education sites for 1 730 children in the growing Austrian capital
The new educational buildings will offer excellent energy performance and help to mitigate climate change
The European Investment Bank (EIB), the city of Vienna and a business consortium have started building two new green education campuses for 1 730 children. The Austrian capital is facing strong population growth and therefore needs new schools urgently.
The ground-breaking ceremony on July 19 is the starting point for the third project of the BIENE educational infrastructure programme (BildungsEinrichtungen-Neubauprogramm in German) that the EIB supports, backed by the European Fund for Strategic Investments (EFSI)
The new education buildings in Vienna’s Rappachgasse and Landgutstrasse will offer excellent energy performance – 44% lower than the Nearly Zero Energy Building standard for Rappachgasse and as much as 51% lower for Landgutstrasse. The project is therefore in line with the EIB`s climate action goals.
The architectural and the teaching concept of the education campuses will enable new and innovative forms of learning: the campuses combine nursery, kindergarten, primary, lower secondary and special-needs education plus leisure activities in one location.
The project is a public-private partnership. The German Landesbank Helaba acts as co-financer for a company held by a consortium of HYPO NOE, STRABAG Real Estate and Caverion Österreich, the winners of the public tender for the project.
“Education is key for sustainable growth, competitiveness and social inclusion in Europe. The EIB is proud to promote a project that supports social and environmental policy goals and green education buildings,” said EIB Vice-President Thomas Östros. “Thanks to the positive social impact of this project, it also qualifies for the EIB’s sustainability awareness bonds.”
Sustainability awareness bonds are allocated only to environmental and social projects making a substantial contribution to EU sustainability objectives. In 2018, the EIB was the first issuer to align documentation with EU legislation on sustainable finance.
About the Investment Plan for Europe
The Investment Plan for Europe is one of the European Union’s top priorities to boost investment and to create jobs and growth by making smarter use of existing and new financial resources. Through guarantees from the European Fund for Strategic Investments (EFSI), the EIB Group is able to take on a higher share of project risk, encouraging private finance providers to participate in projects. The projects and agreements approved for financing under EFSI so far are expected to mobilise €546.5 billion in investments and support about 1.4 million startups and small and medium-sized enterprises across all EU Member States.
Photo: ©Michael Sazel/STRABAG
Vienna Insurance expands business to northern Europe
Vienna Insurance Group is set to expand its operations in Sweden, Norway, Denmark and Finland as parts of its strategy to further bolster its footprint in Europe, setting up offices in Stockholm, Copenhagen and Oslo.
The austrian company has developed a team of underwriters to provide insurance solutions to corporate customers through brokers in these markets.
Vienna Insurance Group CEO Elisabeth Stadler said: “For the Vienna Insurance Group, the expansion of operations in Northern Europe means the targeted use of specific business opportunities in markets.
“However, we are still clearly committed to a strategy focused on Central and Eastern Europe, which has involved organic growth as well as the acquisition of existing insurers, or setting up new companies.
“With the development of business activities in Northern Europe, VIG will establish a geographical bridge between Northern Europe and the Baltic States – particularly Scandinavian and Finnish companies are actively operating in the Baltics, where VIG is the clear market leader.”
In March this year, Vienna Insurance acquired Gothaer Towarzystwo Ubezpieczeń (Gothaer TU) to strengthen its non-life insurance business in Poland.
In February, the Austrian insurer acquired certain stake in mutual insurance association Towarzystwo Ubezpieczeń Wzajemnych “TUW” through InterRisk.
Vienna Insurance concluded the merger of bancassurance companies Pojišťovna České sporitelny and Kooperativa in Czech Republic in January.