ISCTE STUDENT RESIDENCES AND CAMPUS DEVELOPMENT

Promoter – Financial Intermediary

ISCTE - INSTITUTO UNIVERSITARIO DE LISBOA

Location

• Portugal

Description

The project concerns the campus modernisation and extension of ISCTE - Instituto Universitário de Lisboa, and the development of new student residential buildings in the Lisbon Metropolitan Area.

Additionality and Impact

The Project supports the implementation of ISCTE's 2020-2030 development strategy. It consists of the renovation and extension of the Lisbon campus and the construction of the new Digital Technologies School in Sintra campus and three student housing units. It is in line with the European Education Area by 2025, the European Research Area and the EIB's Innovation, Digital and Human Capital Public Policy Goal.

The supported investments aim at improving access to high quality higher education in Portugal, creating positive externalities. Additionally, given ISCTE's close relationship with the world of work, the Project has the potential to foster job creation and improve productivity and economic growth. Finally, the investments targeting climate change mitigation will contribute to the construction of a more sustainable future. More than 13 150 students and almost 900 staff will benefit from the Project investments on campus, and the supply of student affordable accommodation will increase by 658 beds.

EIB financing will contribute to diversify the entity's funding sources, while providing the necessary flexibility to implement the project in terms of drawdowns and availability period.

Objectives

The aim is to enhance the learning experience of ISCTE students. Additionally, by contributing to the modernisation of a prestigious higher education institution and increasing the supply of affordable housing, the project will contribute to human capital formation and economic and social development in Portugal. A good level and a good quality of education accessible to all are essential for the economic and social development of a country.

Sector(s)

• Education - Education

Proposed EIB finance (Approximate amount)

EUR 40 million

Total cost (Approximate amount)

EUR 105 million

Environmental aspects

The Environmental Impact Assessment (EIA) Directive 2014/52/EU amending the EIA Directive 2011/92/EU does not specifically cover educational infrastructure, leaving it at the discretion of the responsible competent authorities to request an EIA on the basis of the location and scale of the works concerned. However, educational infrastructure may fall under Annex II of the Directive with respect to urban development. The public buildings will be required to at least meet the energy efficiency targets as defined in Directive 2010/31/EU on the energy performance of buildings and Directive 2012/27/EU on energy efficiency. Social and environmental aspects as well as any aspects related to historical and cultural heritage will be verified during the appraisal.

Procurement

The Bank will require the promoter to ensure that contracts for implementation of the project have been and will be tendered in accordance with the applicable EU procurement legislation, Directive 2014/24/EU as well as Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.

Status

Signed - 4/12/2023