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| Principal theme: Financing our ambitions |
UCL agreed a 拢280 million loan from the European Investment Bank, the largest sum ever lent by the bank to a university.
We will use the 30-year loan to develop our Bloomsbury campus, and finance the building of UCL East, our new site at the Queen Elizabeth Olympic Park in east London.
We are investing 拢1.25 billion over 10 years to implement Transforming UCL, our programme to develop the two campuses as well as other projects across London, to support growth in our world-leading teaching and research, and to create a more vibrant, student-focused environment.
Our Bloomsbury campus is undergoing an ambitious programme to upgrade and expand, including the , and the building of a New Student Centre.
In 2014, we announced that to enable further expansion we would build UCL East, a new campus at the Queen Elizabeth Olympic Park, forming part of the wider Cultural and Education District. The new campus will be a radical new model of how a university campus can be embedded in the local community and with businesses, and is due to open during the 2019鈥�20 academic year.
The loan agreement was formally signed during a visit to UCL by Jonathan Taylor, Vice-President of the European Investment Bank.
Since 2010 the European Investment Bank has provided more than 拢2.1 billion for transformational investment at 30 universities across the UK. Transforming UCL is one of the biggest capital investment programmes being carried out in the higher education sector in the UK.
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