Public Companies for the Management of School Buildings (SPABS)

SPABS

The Public Companies for the Management of School Buildings (SPABS) are public bodies responsible for managing part of the school building property of the Wallonia-Brussels Federation. These five companies carry debt amounting to EUR 795.3 million, which is included in Wallonia’s direct debt, as prescribed by the Institute for National Accounts (ICN).

Although SPABS debt is jointly guaranteed by the Wallonia-Brussels Federation and the Region, it is the Region that directly manages these borrowings—negotiation, refinancing, and debt servicing—via WFE.