The European Investment Bank has agreed to a £200m loan to Oxford University to improve and expand of their research and teaching facilities.
This is the largest single loan ever provided to a University from the EIB.
This loan is in addition to the £1.45bn that the EIB has invested in UK Universities in the last five years. The UK is the largest beneficiary of university lending in Europe.
Anneliese Dodds MEP has welcomed the loan and said "This loan has the ability to take the fantastic work being done at Oxford University to even greater levels. By expanding the Old Road Campus, the university will be able to take in up to 600 extra scientists."
The loan will supplement money already raised by the university through grants and philanthropic donations, allowing them to continue renovation to the Radcliffe Observatory Quarter among other facilities.
"Over the last year we have seen £6bn in long term investment from the EU pushed into the UK for new hospitals, renewable energy and better sewage treatment. This loan to Oxford University is yet another example of what we can achieve by working with our European partners."