Cluj-Napoca Technical University gets EUR 21 mln loan from EIB

The European Investment Bank (EIB) has agreed to support transformational investment at the Technical University of Cluj-Napoca (TUCN) through a new EUR 21 million, 25-year loan, the bank announced on December 18.

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

The EIB is currently examining financing at several universities across the country, with other projects expected to be announced in the coming weeks.

The proposed program for the period 2021-2025 follows the financing agreement signed by the EIB with the Polytechnic University of Bucharest in 2019, worth EUR 25 million, which proved to be a real success, and which will be multiplied by the proposed new program, according to the EIB.

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 buildings' energy efficiency.

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 center 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.

The investments will also provide a new building for the Artificial Intelligence Research Institute and the relocation of the university library and canteen to modern facilities, equipped with state-of-the-art technology.

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