EIB lends the University of Oxford 35 million euro for research and innovation
The European Investment Bank (EIB) has provided the University of Oxford, UK, with a loan of 35 million euro in order to boost its research and commercialisation capacity. The loan is part of a 140 million euro EIB lending programme for English universities established in cooperation with the higher education funding council for England, which aims to modernise the country's research infrastructure. Specifically, the University of Oxford will use the funds to finance infrastructure improvements and the construction of an innovation centre, which will focus on the medical sciences. The centre will focus on the commercialisation of basic research results and encourage the creation of high tech spin-off companies. The EIB says that funding initiatives of this kind are in line with its aim of supporting the Union's targets on research spending and competitiveness. The EIB, the long term financing arm of the EU, has granted loans for research, development and innovation totalling 15.2 billion euro since the Lisbon Summit in 2000. Between 2004 and 2010, it plans to lend a further 40 billion euro for similar projects.
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United Kingdom