The European Investment Bank (EIB) said on Wednesday that it has agreed a new 24 million euro ($29 million) loan to enhance research activities and modernise academic and student facilities at the Carol Davila University of Medicine and Pharmacy in Bucharest, according to SeeNews.com.
The loan financing will support a total 48 million euro worth of new investments to upgrade facilities at Romania’s largest medical school, significantly transforming medical research capabilities, the EIB said in a press release.
Investment includes refurbishment of the faculty of medicine and construction of two new-dedicated medical research centres. The EIB financing will also support energy investment work across the university campus.
“The EIB loan responds to the current needs of the University to modernize the teaching environment and research facilities and will accelerate the development, digitalisation and internalisation of our University,” rector Viorel Jinga said.
The loan is the second approved as part of the EIB’s 100 million euro higher education investment initiative to support university investments in Romania endorsed in 2020, following a 21 million euro loan to the Technical University of Cluj-Napoca.