EIB Loan for Hungarian School Infrastructure

The European Investment Bank and the Ministry of Finance of Hungary signed this Thursday in Budapest an EUR 150 million loan for the construction and rehabilitation of eight schools, 16 classroom extensions and 20 new sport halls in schools, as well as the construction of 26 swimming pools and 17 larger gymnasiums in public schools across the country.

The European Investment Bank and the Ministry of Finance of Hungary signed this Thursday in Budapest an EUR 150 million loan for the construction and rehabilitation of eight schools, 16 classroom extensions and 20 new sport halls in schools, as well as the construction of 26 swimming pools and 17 larger gymnasiums in public schools across the country.

Overall, the EIB loan will facilitate new capacities in the primary and secondary education and in particular will allow pupils currently schooled in mobile containers to move in to new, modern school buildings; investments will increase the social opportunities and future employability of children. Access to modern sport infrastructure will also contribute towards better public health in Hungary by allowing young Hungarians to meet the sport education requirements of the national curriculum and engage in popular sports.

The loan will reduce overcrowding in schools, improve teaching equipment and subsequently improve educational performance of young Hungarians, offering effective education regardless of the social background as well as extending equal opportunities for quality education.

On top of increasing the social inclusiveness of public schools, the major provider of education in Hungary, the EIB loan will support them to adapt effectively to local demographic changes, reduce energy consumption and contribute towards a sustainable environment in Hungary and the European Union.

To date, the EIB has invested EUR 911 million in education sector in Hungary alone.