Reference: 20140621
Release date: 20 May 2016

Promoter – Financial Intermediary

Central European University, Budapest

Location

Description

The purpose of the project is to redevelop the urban campus of the Central European University (CEU) in the historical centre of Budapest, involving the renovation and new construction of approximately 39 000 m2 of teaching, conference and research facilities.

Objectives

The project will consolidate CEU's academic and administrative units within a single and cohesive campus with sufficient space and up-to-date facilities for students and staff in a modern, high quality campus by fully connecting the existing buildings in the centre of Budapest and creating a unified space with additional capacity for study places (both in the library and in seminar rooms), meeting rooms, computer labs and seats in the new, large capacity auditorium.

The new facilities will help the University compete for high quality students, faculty and staff, and will improve interaction within and between departments, enabling interdisciplinary studies, and enhancing interaction among faculty and students. It will develop the teaching and research capacity at CEU, and is expected to improve CEU's civic outreach.

The new space will significantly enhance CEU's role as an international centre and meeting place for scholars, practitioners and students from all over the world.

Key elements of the project brief included environmental sustainable design, verified by BREEAM assessment and a planning application which is compatible with the UNESCO designated historical urban context.

Sector(s)

Proposed EIB finance (Approximate amount)

EUR 25 million

Total cost (Approximate amount)

EUR 51 million

Environmental aspects

Education buildings are not specifically mentioned in the EU Council Directive 2011/92/EU on Environmental Impact Assessment (EIA), though the project is covered by Annex II of the Directive in respect to urban development. The Bank's services will verify during appraisal whether an EIA and/or the screening decision of the competent authority is required.

The energy performance design of the facilities and any specific related targets to be met will be verified during appraisal. The public building will be required to at least meet the relevant national and EU targets on energy efficiency (EU Directive 2010/31/EU). Part of the project will contribute to climate action objectives by implementing building technologies and energy systems that are expected to reduce CEU's energy consumption by two-thirds

Procurement

The promoter has been assessed by EIB as being a private company not operating in the utilities sector and not having a status of a contracting entity, thus not being subject to EU rules on public procurement.

Status

Signed - 27/10/2016

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

Hungary Education