23 September 2015

European Investment loan to boost expansion programme

The European Investment Bank (EIB) has agreed to provide £200 million for the University’s programme of improvement and expansion of research and teaching facilities. This represents the largest ever single loan for university investment by Europe’s long-term lending institution.

The 30-year loan will be used towards the University’s plans to replace and upgrade existing buildings across the city. These include the Radcliffe Observatory Quarter and expansion of the Old Road Campus on the former Park Hospital site. The money has been allocated both to planned buildings and projects that have already been completed.

The Vice-Chancellor, Professor Andrew Hamilton said: 'Oxford’s internationally outstanding facilities and resources are key to our position as a global leader in education and research. The European Investment Bank has shown a great understanding of our on-going investment plans for highly-advanced buildings and equipment. Their support now gives us greater freedom to progress our vision of a continually-evolving campus, enabling world-leading academics to tackle the great research challenges of the 21st Century.'        

The investment programme will strengthen specialised scientific research: new laboratories for interdisciplinary bioscience are to be built at the heart of the South Parks Road Science Area, with new facilities for research and teaching at the Department of Physics. The new Beecroft Building is currently under construction.

On-going developments on the university’s Old Road Campus are also supported by the EIB loan. These include the Big Data and Target Discovery Institutes at the new Li Ka Shing Centre for Health Information and Discovery, which will be one of the largest multidisciplinary centres of biomedical research in Europe. The new backing will also be used for refurbishing and extending the Tinbergen Building to provide new chemistry teaching laboratories.

The largest single scheme to benefit is the Weston Library, which opened to the public earlier this year with new secure storage facilities, additional reading rooms and visitor facilities.

See the University website here for further details.