The first educational institution infrastructure project funded by VIPA has been implemented – a new building at the SMK is about to open for students in Kaunas
The opening ceremony of the new building for the Kaunas campus of the College of Social Sciences was held on 17 December. The project was funded with capital from the Public Investment Development Agency (VIPA) under the measure “Renovation and Development of Higher Education and Vocational Training Infrastructure (Buildings)”.
VIPA issued a loan of EUR 1.76 million for the project.
“In order to meet the needs of applicants and end beneficiaries identified since the very establishment of the Public Investment Development Agency, we have created a flexible measure. This is the first measure funded from VIPA’s capital and the first loan signed in the implementation of the measure ‘Renovation and Development of Higher Education and Vocational Training Infrastructure (Buildings)”, said Gvidas Dargužas, CEO of VIPA.
After VIPA became a financial intermediary of the European Investment Bank in 2013, a contract was signed for the modernisation of dormitories of educational institutions (increasing their energy efficiency). This is when the need for a financial instrument, which would allow higher education institutions and vocational training institutions to renovate their buildings, reconstruct them or build new ones, came to light.
The new SMK building will accommodate nearly 2,000 students
The modern building of the College of Social Sciences is located in the neighbourhood of Aleksotas in Kaunas, and will be used for studies and applied research projects.
The total area of the building covers more than 3,500 square metres. Aesthetic cosmetology laboratories and conference halls as well as a catering service area have been set up on the first floor. Research laboratories and lecture halls have been arranged on the second floor, with some lecture halls and offices for administrative staff located on the third floor. The premises on the fourth floor will house a library, a reading room, open spaces for independent work of students and lecture halls. The building will accommodate nearly 2,000 students.
The SMK Chancellor Gabija Skučaitė says that the new complex is designed to combine intellectual and creative work, learning, idea development and implementation. Therefore, this place will become a significant space not only for the development of the college, but for the entire community of Kaunas city as well.
Call for applications
The Public Investment Development Agency has been issuing loans for the renovation and development of higher education and vocational training infrastructure (buildings) since 22 January 2020. So far, decisions have been made on the funding of projects worth EUR 7 million under this measure.
“The flexibility of the measure makes it very popular among potential applicants, therefore we are already negotiating with international financial institutions for additional fundraising and are planning to expand the measure”, says Justinas Bučys, Business Development Director of VIPA.
