The European Investment Bank (EIB) has recently approved a twenty-five million euro (EUR 25 million) loan for the Polytechnic University of Bucharest (UPB).
UPB is one of the most famous institutions for higher education in Romania. Currently, the university has more than two hundred and fifty (273) members of staff and another five thousand (5,000) students.
According to university plans, the funding will be used for the redevelopment of the university campus, which will generate workplaces for another one thousand (1,000) employees.
The EIB decided to give the university a loan as part of the now-famous “Juncker Plan,” which was developed as part of the European Fund for Strategic Investments (EFSI).
Higher education in Romania
Higher education in Romania is demonstrating increasing quality. According to recent statistics, more than fifty percent (50%) of Romanian emigrants are overqualified for the job positions they are taking outside the country.
The EIB loan will be an excellent opportunity for the Polytechnic University of Bucharest, as it will allow the institution to modernize the campus and equipment available to students. Being a university with predominantly technical courses, the loan will be used for the improvement of the equipment in science labs and classrooms.
According to the university, a portion of the funding will also be allocated for the construction of a whole new campus block, which will allow students from three more faculties to be closer to the school community. Currently, these faculties are located away from the main campus, which means that students have to travel between several locations to attend their classes.