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    Reference: 20140078
    Release date: 8 July 2014

    Promoter – Financial Intermediary

    PUBLIC ENTITY(IES)

    Location

    Description

    Programme Loan for funding a range of capital expenditure investments in British higher education institutions with a focus on research and employability aspects.

    Objectives

    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.

    Comments

    Sector(s)

    Proposed EIB finance (Approximate amount)

    GBP 203 million (EUR 255 million)

    Total cost (Approximate amount)

    GBP 1400 million (EUR 1760 million)

    Environmental aspects

    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.

    Procurement

    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.

    Status

    Approved - 16/09/2014

    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