The Babes-Bolyai University (UBB) in Cluj-Napoca, a leading academic institution of Romania, has obtained a EUR 35 million loan from the European Investment Bank (EIB) for the development of its university campus.

The 25-year long-term financing is "the largest ever EIB support for higher education investment in Romania and among the first development loans granted to a university in the country backed by the European Fund for Strategic Investments," UBB said, according to local Agerpres.

The investment is aimed at transforming the university's academic and student units, which would result in about 49,000 students and 4,000 staff benefiting from improved research facilities and offices. The project will also invest in energy efficiency to reduce energy bills and cut carbon emissions, following the "UBB Goes Green" program.

irina.marica@romania-insider.com

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