The European Investment Bank (EIB) is lending €25 million to Central European University (CEU) to upgrade its campus located in the historic center of the Hungarian capital Budapest.
The EIB loan will finance the University’s urban campus development project comprising the renovation and construction of approximately 39,000 m2 of teaching, conference and research facilities. The project consolidates the University's academic and administrative entities on a single and cohesive campus with sufficient space and up-to-date facilities for students and staff.
The upgraded CEU campus will contribute to improving education in Hungary with a positive effect on innovation, productivity and employability. The new facilities will strengthen R&D infrastructure as well, facilitating the research carried out by the University.
The project is also in line with the EIB’s priority to support climate action as it reduces energy consumption by two-thirds compared to the current facilities. Part of the project will contribute to the rehabilitation of historic and listed buildings. The main construction work commenced in late 2014 and is expected to be finalized by the end of 2019.
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