Luxembourg, 16/03/2004 (Agence Europe) - The European Investment Bank (EIB) has just granted two loans, to a total of 70 million EUR, to modernise school buildings and to build new schools in the town of Oulu and the region of the same name in northern Finland. A loan of 25 million will go to the joint authority in charge of vocational training in the Oulu region, the public body in charge of education for the town of Oulu, and eleven surrounding smaller towns. This loan will be used to pay for new vocational training infrastructure and teaching. Another loan, of 45 million EUR, has been granted to the town of Oulu, to modernise and extend its school facilities. This investment will help the town to face up to its future needs in terms of increased capacity of schools and nurseries due to the anticipated increase in the number of young families settling here in the next few years. These two loans will answer the EU's concerns about promoting the emerging knowledge-based society.