Two European Investment Bank (EIB) loans totalling €425 million will help finance the modernisation of 477 state primary schools in Marseille.

The project is part of the “Marseille en Grand” national programme to modernise France’s second largest city.

It is estimated that the refurbishment of the buildings and infrastructure of the Plan Ecoles will benefit 30,000 pupils in primary schools, or a quarter of the young people enrolled in public schools in Marseille.

“An initial loan of €340 million was granted to Société Publique des Ecoles Marseillaises (SPEM), a local public development company 50% owned by the city of Marseille and 50% owned by the French government, created under the ‘Marseille en Grand’ programme launched in September 2021 by the French President, providing for a total of €5 billion of investment in the city of Marseille,” said the EIB.

“SPEM’s primary goal is to oversee the large-scale renovation of 188 schools. As the French government is the guarantor of this loan, the financial conditions that accompany it are particularly favourable.

“The EIB also enables SPEM to benefit from advisory services financed under the Invest EU programme intended to identify grants that could supplement this EIB financing.

“A second loan of €85 million was granted to the City of Marseille, which oversees the rehabilitation of 289 schools.

“The ‘Plan Ecoles’ of the City of Marseille is a broad programme to renovate and rehabilitate Marseille’s primary schools as part of the ‘Marseille en Grand’ programme.”

The financing contracts were signed in Marseille by EIB Vice-President Ambroise Fayolle, responsible for operations in France, the Mayor of Marseille Benoît Payan, and the Prefect of the Region Georges-François Leclerc, in the presence of local elected representatives and the European Commission’s representative in Marseille.

EIB Vice-President Fayolle said: “We are delighted to help improve schools in Marseille for the benefit of children in the city. More modern schools better equipped for efficient learning and teaching, which are also more energy-efficient and climate friendly, are a real asset for a large, dynamic city like Marseille. This is the first direct EIB financing operation supporting the city of Marseille and is a forward-looking investment.”

Mayor Payan said: “For too long, schools in Marseille have been neglected. We are now laying the groundwork for a deep transformation, for our children, our teachers and our families. To implement this unprecedented project, we are working with the government and the European Investment Bank to reverse decades of decline and build a dignified, modern and ecological public school system.

“This is an important project that goes to the core of what our plan is for Marseille: equal opportunities from an early age. Education is our priority, and this requires buildings that live up to the ambitions of the whole city.”

Nicolas Andreatta, Director of the Société Publique des Ecoles Marseillaises (SPEM) said: “Thanks to the effective financing provided by the European Investment Bank, the Société Publique des Ecoles Marseillaises will be able to contribute to the ambitious transformation program of the City of Marseille’s school infrastructure.

“By renovating and modernizing nearly 200 schools over the next decade, we will provide educational communities with high-quality infrastructure: energy-efficient and comfortable buildings, green schoolyards, and safe, welcoming spaces. We are proud to build modern schools that are open and integrated into their neighbourhoods, where future generations of boys and girls from Marseille can grow, learn, and thrive.”

Georges-François Leclerc, Prefect of the Provence-Alpes-Côte d’Azur Region, Prefect of Bouches-du-Rhône said: “The French State welcomes this loan from the European Investment Bank to the Société Publique des Écoles Marseillaises, which is backed by a State guarantee.

“As part of the ‘Marseille en Grand’ initiative — an exceptional plan initiated by the President of the Republic — €650 million in State guarantees have been granted to SPEM, in addition to €400 million in subsidies.

“This plan is particularly aimed at ensuring that all young people in Marseille have the conditions necessary for academic success within the republican school system, one of the pillars of our Republic.”