"The work happening at the university is one of the most significant and biggest projects in the last five years. We’re very grateful and are looking to the future with hope."
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Summary sheet
Release date
1 August 2014
Status
Reference
Signed | 12/12/2014
20140303
Project name
Promoter - financial intermediary
UNIVERSITY OF CYPRUS II
University of Cyprus
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 162 million
EUR 216 million
Description
Objectives
Second phase Investment Programme for the extension and development of the University of Cyprus campus.
The next phase of building development and refurbishment will be implemented over the coming years to ensure that the buildings are of high quality and enhance the research, teaching and social learning space in the University. The objectives are: • Support research and innovation, • Deliver a high quality student experience, • Invest to provide consistently high-quality infrastructure and equipment.
Environmental aspects
Procurement
Universities and research institutions are not specifically mentioned in the annexes I and II of the EIA Directive 2011/92/EU and therefore do not require a mandatory Environmental Impact Assessment. However, parts of the investment cover the construction of new facilities and therefore may be covered by Annex II of the Directive in relation to urban development. The Bank's services will verify during appraisal whether an EIA is required for any component of the project.
The Bank will require the Promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Dir. 2004/18/EEC/ or 2004/17/EEC and Dir. 2007/66/EC), with publication of tender notices in the EU Official Journal, as and where appropriate.
Related documents
Documents
Environmental and Social Data Sheet (ESDS) - UNIVERSITY OF CYPRUS II
Publication Date
8 Jan 2015
Document language
Main Topic
Lending
Document Number
55889614
Document Focus
Environmental Information
Document Type
Project Number
20140303
Sector(s)
Regions
Countries
Publicly available
Download now
Non-Technical Summary (NTS) - PV Plant - UNIVERSITY OF CYPRUS II
Publication Date
7 Nov 2014
Document language
Main Topic
Lending
Document Number
55928756
Document Focus
Environmental Information
Document Type
Project Number
20140303
Sector(s)
Regions
Countries
Publicly available
Download now
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News & Stories
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Inside the project
How and Why
More innovation, more jobs
Why
- Knowledge economy in education
- Cohesion, bringing Cyprus into line with other EU economies
- Climate action with energy efficiency
- Exceptional contribution to EC policy objectives to prevent migration after the financial crisis
How
- Existing facilities too small for growth in student numbers. University of Cyprus can only accept a third of applicants. The project will provide space for these students and allow them to remain in Cyprus, expanding the country’s knowledge economy
- The increase in research facilities boosts Cyprus as a research venue
- Better education leads to more innovation and lower unemployment
- Energy efficient construction will allow the university to operate entirely on solar power
Sectors & Countries
Impact
Cutting-edge medical, engineering facilities
The number of students studying at the University of Cyprus has grown from 486 to over 10,000 in the last 15 years, faster than predicted and now with good facilities for all of them.
- A new library, the Hall of Knowledge, that will also be open to the public
- A cutting-edge faculty of engineering with research facilities in transport, energy and water management
- An energy efficiency project that will enable the university to be the first of its kind completely reliant on solar energy
- A purpose-built medical school fitted.
Story
Opportunity at home for Cypriot students
The aftermath of the international financial crisis left Cyprus’s economy on its knees. Younger Cypriots saw little future for themselves in the country.
Andreas Antonopoulos, an economics undergraduate student remembers that period well. “We couldn’t see why we would stay in our country to study,” he says. “We doubted whether we would we earn enough, and if there would be work at the end of our studies.”
“But then things began to change. I’m forever grateful that such opportunities are now available closer to home.”
Andreas was able to study in Cyprus thanks to the expansion of the University, with EIB backing. Across Cyprus, the EU bank invested a total of €1.75 billion in a range of projects, from new hospitals to power stations.
Hear what students, professors and researchers think about the impact of our financing on their university in our Future Europe podcast
"This loan has allowed the University of Cyprus to dream and to have a vision for its future growth. It has changed the crisis situation into an opportunity situation. I believe that the university is a place where betterment can begin, this is the place to give hope to the society."
A massive project for a small island
Constantinos Kythreotis used to supervise road maintenance and small construction projects in Paphos. For a civil engineer, it was not a challenging task, but the financial crisis meant that there simply were no big construction projects for him to work on. Constantinos was glad to have the job, because the crisis left so many professionals unemployed or forced to work overseas.
Then, in 2017, Constantinos joined the University project. He oversees the teams of architects, engineers and quantity surveyors building the €55 million Faculty of Engineering at the University of Cyprus. He loves the challenge.
“I feel very proud and excited,” the 40-year-old Nicosia native says. “It’s a unique project in Cyprus—maybe even in Europe. It is the largest building ever constructed in Cyprus for teaching and research.”
The University of Cyprus is expanding its facilities, in particular its capacity to host lucrative research activities.
“After the crisis, it was especially difficult for the engineering and construction sector,” says Constantinos. “This project at the University created a lot of work for people. For many of them, it helped them stay in their country with their families.”
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I Got a Job: A unique European project for Cyprus
The financial crisis made Cyprus job creation crucial. The University of Cyprus expansion boosts construction jobs now and, in the future, its facilities will bring valuable research funds
University helps rebuild Cyprus
With its Cyprus university finance, the EU bank helps young Cypriots stay on their island—even after the financial crisis—to build the island’s future
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