The European Investment Bank has announced it will support transformational investment at the Technical University of Cluj-Napoca (TUCN) through a new 21 million Euro, 25-year loan.

The loan is the first granted under the EIB’s EUR 100 million “Romania Higher Education Programme Loan” and is guaranteed by the European Fund for Strategic Investments, the core of the Investment Plan for Europe – also known as the “Junker Plan”.

The program launched by EIB in 2020, has as main objective to ensure the necessary resources to improve the teaching, research, innovation, and student living conditions in Romanian universities, by building new buildings or renovating existing ones. The funding also supports adapting infrastructure to new technologies, improving learning environments, increasing the accessibility of people with disabilities, and improving the energy efficiency of buildings.

The loan agreement signed by TUCN represents the first support granted to a university in Romania, by the European Investment Bank, within this program to bolster higher education, launched at the beginning of 2020.

The investment plan of UTCN includes the modernization of the educational infrastructure for smart specializations located in 3 existing buildings, the creation of a centre called Hub UT Cluj consisting of spaces for conferences, workshops, and hosting spin-offs, as well as the construction of new accommodation for 300 students, along with the renovation of existing ones.