Babes Bolyai University of Cluj-Napoca (UBB) – Romania’s largest university and a flagship academic institution, part of the EUTOPIA European University Alliance – will benefit from campus investment backed by a new 35 million Euro loan from the European Investment Bank confirmed today.
The new 25-year long-term financing represents the largest ever EIB support for higher education investment in Romania and the third university loan in the country backed by the European Fund for Strategic Investments.
Babeș-Bolyai University also benefitted from technical and financial advisory support provided by the European Investment Advisory Hub, a joint initiative of the EIB and the European Commission. EIB experts and external consultants provided the University with a comprehensive package of advisory support, facilitating the preparation of a sound investment proposal and accelerating its access to finance.
Babeș-Bolyai University also benefitted from EIB’s Advisory Services support in the form of financial advice and preparation for EIB’s due diligence.
The new investment will strengthen research and innovation; upgrade and expand the environmental sciences and engineering as well as mathematics and informatics-computer science infrastructure and teh faculties; increase teaching space and academic offices; and upgrade buildings across the campus. Babeș-Bolyai University’s InfoBioNano4Health Platform is the main beneficiary of the support, focusing on using computer science (e.g., AI/Big Data/Quantum Computing/Cybersecurity/Blockchain/Virtual-Augmented Realities), life sciences, biotechnologies, nanosciences and nanotechnologies for both human and environmental health.
The latest European Investment Bank support for the higher education investment in Romania follows recent backing for campus investment at Bucharest Medicine University, Cluj Technical University, and Bucharest Polytechnic University.
Last year the European Investment Bank Group provided 907 million Euro for new investment across Romania.
Over the last 31 years, the EIB Group has provided more than 18 billion Euro for public and private sector investment across Romania.