UNIMORE CAMPUS UPGRADE

Promoter – Financial Intermediary

UNIVERSITA DEGLI STUDI DI MODENA E REGGIO EMILIA

Location

• Italy

Description

The project will finance the modernisation of existing premises, construction of new buildings and new equipment for the University of Modena and Reggio Emilia (UNIMORE). The campus upgrade concerns over 20,000m2 dedicated to teaching, administrative, research, development and innovation activities, as well as student accommodation.

Additionality and Impact

The Project supports the continuing expansion, renovation and modernisation of the extended campus of the University of Modena and Reggio Emilia (UNIMORE), which will live up to the highest standards of modern teaching, learning and research environments.

It addresses a market failure with regard to sub-optimal levels of investment in higher education in Italy.

The Project will generate positive externalities for society in terms of improved education provision and knowledge externalities from expanded and improved teaching, learning and research. It will also support the continuing protection and preservation of its historical buildings and improving the energy performance of its estate by including energy efficiency measures.

The EIB brings a comprehensive financial contribution to the investment programme by providing the University with financial benefit and customized terms.

Objectives

The aim is to enhance the teaching and learning environment and staff working conditions, as well as increase the capacity for student accommodation in campuses across the two cities. The upgrade of UNIMORE facilities will help to align to modern pedagogical methods, meet the local demand, also in terms of labour market outlook, thus contributing to human capital formation. The EIB loan will support UNIMORE's strategic plan aiming to contribute to the local system of innovation and technology transfer, to the creation of new businesses, to the sharing of knowledge with society to prepare it for the current rapid pace of change.

Sector(s)

• Education - Education

Proposed EIB finance (Approximate amount)

EUR 45 million

Total cost (Approximate amount)

EUR 96 million

Environmental aspects

Directive 2011/92/EU (amended by Directive 2014/52/EU) on Environmental Impact Assessment (EIA) does not specifically cover university and research 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, university and research 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. Furthermore, the climate plans of the universities and/or their regions and application of adaptation measures will be assessed within the context of the proposed investments during the appraisal. Social and other environmental aspects as well as any aspects related to historical and cultural heritage will be further verified during the appraisal of the subsequent sub-projects.

Procurement

The Promoter has to ensure that contracts for the implementation of the Project shall be tendered in accordance with the relevant applicable EU procurement legislation, 2014/24/EU, where applicable, as well as Directive 89/665/EEC as interpreted by the Court of Justice of the EU. The Bank will also require the Promoter to publish tender notices in the EU Official Journal (OJEU), as and where required.

Status

Signed - 13/06/2023