-The EIB will finance IE University with an initial tranche of €15 million, which could be extended with another tranche for the same amount in 2022.
-This project is supported by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe.
The European Investment Bank (EIB) has approved a financing plan of up to €30 million for IE University, an educational institution recognised across Europe with students of 140 nationalities on its Madrid and Segovia campuses. The EIB financing, supported by a guarantee from the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe, amounts to €15 million in an initial tranche, which could be extended by another tranche for the same amount in 2022.
Educational digitalisation and innovation
Investments financed by the EIB include upgrading state-of-the-art equipment to boost the digitalisation of the institution. IE University will expand the liquid learning methodology that enables students to attend class in-person or online with the same immersive and academic experience. The EIB financing, subscribed with Instituto de Empresa, an educational group to which IE University belongs, will facilitate the design of academic materials, data management and analysis, and the use of new technological tools applied to education.
Under this agreement, IE University will promote the renovation of facilities on its María de Molina campus in the financial district of Madrid. It will also cover the fitting-out of IE Tower, the institution's new headquarters and one of the few high-rise university campuses in the world, located in the north of Madrid and set to open in September. The investment plan will also target restoration works at the Convent of Santa Cruz de la Real in Segovia, a 15th-century building that houses the historic campus of IE University, as well as the renovation of the Palacio de Mansilla, also in Segovia, which will be transformed into a university residence.
Energy efficiency and social cohesion
The EIB funds will also accelerate the implementation of IE University's strategic plan for sustainability. The institution will improve energy efficiency in its facilities and promote the use of alternative energies and the modernisation of air conditioning and ventilation systems on its Madrid and Segovia campuses.
The financial plan will also contribute to meeting the European Union's objectives of convergence and social cohesion, helping to reduce regional differences, in this case through investment support in Segovia. In addition, the operation is expected to have a major impact on employment, contributing to the creation of new jobs.
Valdis Dombrovskis, Executive Vice President of the European Commission for An Economy that Works for People, said: “With EIB financing supported by the Investment Plan for Europe, IE University will improve its digital learning projects, energy efficiency and campus infrastructure. This agreement will contribute to the green and digital transition of the education sector. It is certainly good news for students, teachers and the environment.”
EIB Vice-President Ricardo Mourinho Félix, who is responsible for the EU bank's operations in Spain, said: “This operation highlights EIB financing for education and how it can be used to achieve key EU objectives in this sector, including innovation, modernisation and the improvement of energy efficiency in buildings. We are very proud to support the investment project of IE University, a leading institution in its field, providing better academic resources for both students and teachers.”
“IE University's investment projects for the coming years are long-term initiatives that we can strengthen thanks to this agreement with the EIB, which has facilitated the process with its management team. It has demonstrated great flexibility and understanding about our institution and the uniqueness of the education sector,” said IE University Chief Financial Officer Jaime Úrculo.
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy objectives.
The European Fund for Strategic Investments (EFSI) is the main pillar of the Investment Plan for Europe. The projects and agreements approved for financing under EFSI have so far mobilised €546.5 billion in investment, a quarter of which is going to research, development and innovation projects.
IE University aims to drive positive change through education, research and innovation. It offers a technology-driven learning ecosystem for leaders who make a real difference in the world through innovation, global vision, an entrepreneurial mindset, and a unique focus on humanities. It has a faculty of more than 500 professors who teach students from 140 countries on its master's, PhD and executive education programmes. IE's alumni network comprises more than 60 000 graduates in some 165 countries. More information is available at http://www.ie.edu.