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    Reference: 20210271
    Release date: 5 November 2021

    Promoter – Financial Intermediary




    The project concerns the refurbishment of the Faculty of Medicine, the restructuration of a existing building to clinical labs and the construction of a technological incubator part of the "George Emil Palade" University of Medicine, Pharmacy, Science and Technology of Targu-Mures.

    Additionality and Impact

    The project concerns the refurbishment of the "George Emil Palade" University of Medicine, Pharmacy, Science and Technology of Targu-Mures and the restructuration of an existing building to clinical labs that are part of the "George Emil Palade" University of Medicine, Pharmacy, Science and Technology of Targu-Mures. The Project addresses a sub-optimal situation with regard to investments in higher education infrastructure.

    The Project addresses shortcomings in UMFST's infrastructure by creating new space for teaching, by investing in modern educational equipment, and by providing additional accommodation for students and visiting staff. The Project also addresses the need for the energy efficiency upgrade of several faculty buildings.

    The EIB advisory support through the resources of the European Investment Advisory Hub (EIAH) had a significant impact on the Borrower's ability to mobilise the financing.

    The Bank's contribution will help accelerate the investments also by offering financing of longer tenor and at advantageous conditions thus providing substantial value added.


    The project is part of a long term modernisation programme of the University and in line with EU public policy goals associated with Education and Training 2020 and Horizon 2020. The project contributes to the European Higher Education Area and the European Research Area by enhancing teaching and learning environments and improving research facilities. The proposed operation provides additional financial resources for the expansion and improvement of both teaching and research activities and therefore, responds to various needs of the innovation system in Romania, most notably the supply of highly skilled graduates in areas of key economic and social importance and the provision of infrastructure for public research.


    Proposed EIB finance (Approximate amount)

    EUR 20 million

    Total cost (Approximate amount)

    EUR 44 million

    Environmental aspects

    The Directive 2011/92/EU amended by 2014/52/EU does not specifically mention the need for an environmental impact assessment (EIA) for buildings relating to education, but it may be that some sub-projects can be regarded as urban renewal projects (Annex II of the European Directive). This will be analysed in detail during the development of the studies. The possible impact on natural sites will be checked prior to the building permit authorisation request stage.


    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 (Directive 2014/24/EU as well as Directive 89/665/EEC) as interpreted by the Court of Justice of the EU, with the publication of tender notices in the Official Journal of the EU, as and where required.


    Signed - 16/08/2022


    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Romania Education