Reference: 20140639
Release date: 11 June 2015

Promoter – Financial Intermediary




The project will finance renovation and extension of certain buildings on University College London's (UCL's) existing Bloomsbury campus, and the first phase in the development of a new 50 000 m2 campus at UCL East. This will be a multi-discipline campus, including experimental engineering and design, laboratories and research facilities, and aiming to foster innovation, new insights and new industries.


The proposed project is designed to help University College London contribute to the common European Higher Education Area and the European Research Area by strengthening its teaching and research capabilities.


Proposed EIB finance (Approximate amount)

EUR 396 million (GBP 280 million)

Total cost (Approximate amount)

EUR 812 million (GBP 574 million)

Environmental aspects

Universities and research institutions are not specifically mentioned in Directive 2011/92/EU on environmental impact assessment (EIA), though the project may be covered by Annex II of the directive in relation to urban development. The Bank's services will check during appraisal the screening decision of the competent authority and whether an EIA is required.


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/EC and Dir. 2007/66/EC (amending Directives 1989/665/EEC and 1992/13/EEC) and Regulation (EU) No 1336/2013), with publication of tender notices in the EU Official Journal, as and where required.


Signed - 22/12/2015


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