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The EIB and the University of Luxembourg have decided to strengthen and develop their cooperation. EIB President Werner Hoyer and the President of the University, Rolf Tarrach, signed on 13 June 2012 at the EIB's head office a Memorandum of Understanding to this effect, governing all the activities developed by the two institutions in areas such as academic research, knowledge transfer through teaching and conferences, sharing of documentary resources, governance and social entrepreneurship.

The conclusion of this Memorandum, establishing an official and comprehensive framework, will enable the University and the EIB to enhance their cooperation in any field covered by their expertise.  At the EIB, all such activities will be supervised by the EIB Institute, which was created on 1 January 2012 and inaugurated on 11 June. 

The objective is to make full use of the potential created by the synergies between the institutions for the benefit of as many people as possible - students, academics, researchers – both within and outside the borders of Luxembourg and the European Union.

This collaboration has developed rapidly over the past few years. In 2008, the EIB decided to transfer its documentary resources to the University, and less than three years later, the “European Studies Library” opened it doors in May 2011, providing access to all the Bank’s collections of historic documents.

Since then, this has been followed up by several initiatives: opportunities for internships and Masters theses and the pooling of knowledge between EIB experts and university staff, some teaching at the university and others in conferences at the EIB; the publication of articles co-authored by EIB and University staff, support for the Summer School of the European Regional Science Association (25 doctorates in 2011), the EIB grant (EIBURS) which since 2010 has been financing research work on a three-year basis under the University's Luxembourg School of Finance; and more recently a series of brown bag lunchtime lectures organised alternately at the University and the EIB and open to the public.

At the signing of the Memorandum, EIB President Werner Hoyer emphasised the fact that the EIB's activities were not strictly limited to the financing of projects (it has injected more than EUR 20 billion into around 200 Knowledge-related projects in the EU over the last 15 years), but that the Bank has a wider responsibility.    “Our support can also be integrated into workplaces and communities, by providing training opportunities, for example, or by forging close ties with teaching facilities. This is precisely what we have undertaken to achieve here in Luxembourg and this is what we would like to reinforce”, he commented, while thanking President Tarrach and the University of Luxembourg for this opportunity. 

“As the President of the very young and European University of Luxembourg, I am particularly proud of this Memorandum which will generate new synergies between our institutions. The EIB is an outstanding partner whose staff possesses a wide range of skills and will hopefully help to raise the profile of our university which strives for openness, relevance and high quality,” Mr. Tarrach commented.

Reflecting the relationship between the two institutions, the signature ceremony provided a platform for exchanges between the participants: the EIB’s Mr H. Seerden reported on his teaching experience at the University and Professor G. Caruso from the University outlined his contribution to the ERSA/UNILU Summer School.

Ms M. L. Ferreira, head of the EIB Institute’s Knowledge Programme, spoke about “Education and Growth” (PowerPoint presentation appended).

Supporting information:

For additional information on activities organised by the EIB and the University, please consult the EIB Institute’s website at http://institute.eib.org