The project aims to bring together most of the University's activities on a single campus and provide advanced facilities for students and researchers, the EIB said November 28.
The development includes the construction of two new facilities, the "House of Health" and the "House of Sports". The "House of Health" will combine teaching and research facilities for the university's medicine, biology, and physics and chemistry faculties, as well as an outpatient clinic. The "House of Sports" will provide sports facilities for use by the university's students for study programmes and leisure activities.
In line with the university's "Green University" strategy, the new buildings will aim to achieve the highest energy performance standards, surpassing the near zero energy building standard. The European Investment Advisory Hub (EIAH) has assisted in developing the business and financial plan for the campus expansion.
The previous loan for the construction of the "House of Letters" is already underway, and the Bank has also financed the construction of the "House of Nature" and the "House of Science" through EU grants.
"This new university campus is a valuable opportunity for the University of Latvia to enhance its position in the higher education landscape," said EIB Vice-President Thomas Östros, who oversees the Bank’s operations in Latvia.
"The fact that the University of Latvia is developing a single campus is very significant, as it ensures active exchange of ideas and knowledge among scientists and students from various fields," said the Rector of the University of Latvia, Prof. Gundars Bērziņš.
"The future plans for the development of the Academic Centre are ambitious, and their implementation requires time and funding. The University of Latvia is grateful for the opportunity to collaborate with the European Investment Bank. The support of EIB for the development of the next phase of the Academic Centre signifies that the European Investment Bank has positively evaluated the university's development plans," added Bērziņš.
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States.
