Release date: 8 July 2014
Promoter – Financial Intermediary
Programme Loan for funding a range of capital expenditure investments in British higher education institutions with a focus on research and employability aspects.
The benefits of the projects derive from the increased scope in achieving well-trained undergraduate and postgraduate students, an expanded research capacity with a focus on applicability of results, and a sustainable and value driven contribution towards economic development in the regions around the universities through the delivery of high quality education services and induced activities in other sectors. The projects will promote interaction between the universities and business sectors.
- Education - Education
Proposed EIB finance (Approximate amount)
GBP 203 million (EUR 255 million)
Total cost (Approximate amount)
GBP 1400 million (EUR 1760 million)
Universities and research institutions are not specifically mentioned in the EIA Directive on Environmental Impact Assessment. An EIA is therefore not required in accordance with the EIA Directive 2011/92/EU. 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 as well as any potential impact on nature conservation sites.
The UK universities, as charitable bodies, are governed by public law, and are thus required to comply with national and European legislation governing the procurement of publicly financed projects in the UK. In recent university transactions financed by the Bank, the procurement notices have been published in OJEU and the applied procedures have been in accordance with EU legislation.
Approved - 16/09/2014