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    Reference: 20100237
    Release date: 27 May 2010

    Promoter – Financial Intermediary

    Universities and further education colleges.

    Location

    Description

    Programme Loan to partly fund various projects in the Higher and Further Education sector.

    Objectives

    Support and further strengthen the UK knowledge-based economy.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    GBP 500 million. (EUR 575 million.)

    Total cost (Approximate amount)

    GBP 2 billion. (EUR 2.3 billion.)

    Environmental aspects

    Council Directive 85/337/EEC amended by Directive 97/11/EC and 2003/35/EC on Environmental Impact Assessment (EIA) does not specifically mention education activities. However, if it is an urban development then Annex II/III of the EIA Directive could apply. The Environmental and Planning Departments of the competent Local Authorities, as part of the Planning Approval process, are required by local legislation viz. the Planning (EIA) Regulations Act - 1999, to screen all projects and confirm whether an EIA is required.

    Procurement

    Most universities and further education colleges, receiving more than 50% annual direct income from public funding authorities, are required to comply with regulations governing the procurement of publicly financed projects in the UK. The Bank will require the promoters of sub-projects to submit documentation confirming compliance with relevant EU and UK procurement policies.

    Status

    Signed - 15/10/2010

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    United Kingdom Education