The Medical University of Warsaw will receive PLN 100m (approx. EUR 24m) to build state-of-the-art academic facilities and renovate existing buildings
The project is guaranteed under the Investment Plan for Europe and shows the growing EIB support for the higher education sector in Poland
Academic facilities in line with the best international standards and the capacity to attract both Polish and foreign students – that is the aim of a modernisation plan undertaken by the Medical University of Warsaw (Warszawski Uniwersytet Medyczny), the leading medical university in Poland.
This higher education institution will receive a PLN 100m (EUR 23.4m) loan from the European Investment Bank (EIB) to modernise key elements of its main Warsaw campus. The proposed operation consists of the design, construction and implementation of a state-of-the-art new medical simulations centre on WUM’s main campus in Warsaw that will be used for training and research. The project also includes the refurbishment of the university’s Litewska building in central Warsaw, the thermo-modernisation of the Faculty of Pharmacy building to improve its energy efficiency and the refurbishment of an auxiliary medical simulations unit.
“This is a ground-breaking transaction for the EIB in Poland”, said Vazil Hudak, Vice-President of the European Investment Bank. “For the first time, and thanks to the Investment Plan for Europe, the EIB is supporting the higher education sector in Poland through a direct loan to a university, and not via the State. The Medical University of Warsaw has a far-reaching development plan which aims to improve the academic environment and provide state-of-the-art facilities, including a brand new medical simulations centre. That will make it possible to have better trained doctors and nurses, and will improve future medical care in Poland. We are happy to invest in this innovative project, which shows our willingness to accompany Poland’s efforts to create a more knowledge-based society”.
Professor Miroslaw Wielgos, Rektor of the Medical University of Warsaw, said: “We are pleased to sign today the contract which paves the way for the development of the Medical Simulation Centre at the Medical University of Warsaw. The funds obtained from the European Investment Bank will enable us to finance the creation of an independent innovative centre offering state-of-the-art solutions for under- and postgraduate training courses. This Centre will help to enhance the quality of medical education in its practical aspects, as well as to offer opportunities for gaining experience in terms of medical treatment and patient care. This is the first project of this kind in Poland, since its funder, EIB, has thus far supported mainly government institutions and agencies”.
Investment Plan for Europe (IPE)
The loan is guaranteed under the European Fund for Strategic Investments (EFSI), which is the financial pillar of the Investment Plan for Europe (IPE), or “Juncker Plan”. The project also received technical assistance from the European Investment Advisory Hub (EIAH), which is the advisory pillar of the Investment Plan for Europe.
Commissioner for Education, Culture, Youth and Sport, Tibor Navracsics, commented: “We need to invest more in education. This is crucial to build resilient, cohesive, fair societies, and to ensure that the European economy remains competitive and innovative. I am therefore pleased to see the European Investment Bank and the Medical University of Warsaw join forces, backed by the Investment Plan for Europe, to improve teaching and learning facilities for students and staff.”
Deputy Minister for Investment and Development, Witold Słowik, added: "The Medical University of Warsaw is the 20th firm or institution in Poland to receive a loan under the Investment Plan for Europe, or Juncker Plan. We have six further operations in the pipeline with a positive decision by the EIB that are waiting for signature. That will bring to 26 the overall number of transactions, for a total value of above 10 billion PLN, making Poland the fifth largest recipient of loans under the Juncker Plan".
Poland’s investment outlook
The signing of the loan with the WUM is moreover welcome news, as it happens on the same day as the presentation of the EIB Investment Survey 2017-2018 for Poland, during an event at the National Bank of Poland (NBP) jointly organised by the EIB and the NBP. The survey highlights that more investment in innovation and skills is needed if Poland is to maintain its successful growth dynamic.
In the chart below, taken as an example, Polish firms were asked what area of public investment, from their business perspective, they would prioritise for the next three years. It is worth noting that, after Transport infrastructure (29%), Polish firms responded Professional Training or Higher education (18%). ICT infrastructure and Hospitals/Care also feature high in the answers.
The EIB Group today joined a global fundraising effort in the fight against the coronavirus. The European Union-led global Pledging Conference, co-chaired by the President of the European Commission Ursula von der Leyen and other world leaders, aims to raise an initial €7.5 billion to end this pandemic.
Elenia, a distribution system operator in Finland, has signed a EUR 100 million loan with the EIB. The supported investments focus on improving security and quality of power supply by weatherproofing Elenia’s electricity distribution network.
With €5.4 billion of overall financing 2019 was a strong year for the EIB Group in Poland. The Group’s activity was 13 % higher than in the previous year and in line with the trend of the past five years. Loans granted to public and private counterparts by the EIB amounted to €4.3 billion, while the European Investment Fund (EIF) provided €1.1 billion in guarantees and equity investments to small and medium-sized businesses and mid-caps.