CEB signs a €15 million loan agreement with Riga Technical University to finance infrastructure improvements and campus expansion
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Add to Preferred SourcesThe Council of Europe Development Bank (CEB) signed a €15 million loan agreement with Riga Technical University (RTU) to finance the modernisation of its infrastructure and further development of its campus.
RTU dates back to 1862 and is the oldest university in Latvia. It is also one of the largest, with nine faculties and approximately 15,000 students enrolled in a range of science and engineering academic programmes. The university has commenced upgrading its infrastructure in order to further improve the quality of their academic studies as well as achieve excellence in research and sustainable innovation, and commercialization activities.
The funds made available by the CEB will ensure the resources needed for the renovation and construction of several university premises. Specifically, the CEB loan will contribute to the completion of the rehabilitation works for the Faculty of Mechanical Engineering, Transport and Aeronautics and to initiating additional construction and rehabilitation works for the Faculty of Civil Engineering, the Science and Innovation Centre, and the Faculty of Computer Science and Information Technology. It is expected that more than 7,000 students will benefit from the new investments.
RTU Rector, Professor Leonīds Ribickis, emphasized the importance of CEB’s decision to support the development of Riga Technical University to achieve sustainability goals.
The CEB Governor, Rolf Wenzel, said: “We are pleased to be able to contribute to the development of state-of-the-art, smart and sustainable education and research infrastructure which will directly benefit RTU’s staff and students. The new facilities will undoubtedly strengthen the competitiveness of Latvia’s higher education as a whole.”
This project is co-financed by the EU, with investment grants allocated under the European Regional Development Fund.
Original source: CEB
Published on 20 December 2018