The European Investment Bank (EIB) have signed a financing loan worth over £51million to business school INSEAD for its Europe Campus Reimagination, which seeks to create a more sustainable campus.
Sustainable construction and renewable energy, including extracting geothermal energy from the campus and new solar installations, will create a highly energy-efficient campus while reducing greenhouse gas emissions.
The European Investment Bank is the long-term lending institution of the European Union owned by its 27 Member States. Investment in education and innovation is one of the EIB’s priorities, and it borrows large volumes of funds on the capital markets and lends them on very favourable terms to support projects that further EU policy objectives. To date, it has invested almost 10 billion euros in education in France over the period 2020-2022, in secondary education (college and sixth form equivalents) with almost all the regions. In higher education, a total of 115 million euros has been financed for campus and research lab renovations in 2022 and 2023
The loan will support the modernisation and expansion of the INSEAD Europe Campus in Fontainebleau, France. The new and improved campus will integrate physical and digital spaces; stimulating research, teaching, interaction, and inclusion; projecting the founding ideas of the campus into the future.
Beyond offering state-of-the-art facilities, this campus is dedicated to nurturing a vibrant, intellectually active atmosphere. Educational infrastructure and innovation are among EIB’s priorities, and this operation will help to strengthen European competitiveness in these areas. This project is in line with the “European Skills Strategy Agenda”, the EU plan to improve training and skills.
“This loan to INSEAD is a concrete example of the EIB’s support for education and innovation”, said EIB Vice-President Ambroise Fayolle, “The EU bank has made the financing of infrastructure in the education and training sector a priority, with an expected impact on the competitiveness of the economy and employment. I am also very pleased that this green investment will significantly improve the carbon footprint of INSEAD’s buildings, thereby helping to combat climate change.”
Professor Francisco Veloso, Dean of INSEAD, said: “The EIB loan is a pivotal step towards the reimagination of our Europe Campus. It will enable INSEAD to pursue its strategic goals and compete at the top of the academic world. The physical transformation of the campus is a bold step for INSEAD in pioneering academic excellence and sustainable business leadership in the interest of human wellbeing.”
Professor Veloso assumed the role of Dean of INSEAD in September 2023. Since then, he has championed sustainability by engaging in key events, including the Davos summit, where he collaborated with a distinguished INSEAD delegation to delve into the transformative role of Virtual Reality and education in fostering sustainable business practices.
INSEAD, a leading global business school, has campuses in Europe, Asia, the Middle East, and North America. The faculty, representing 41 countries, teaches programs like Master in Management, MBA, Global Executive MBA, and specialised master’s degrees. Each year, over 1,500 students and 11,000 executives participate in INSEAD programs. Prioritising a global perspective, INSEAD focuses on cutting-edge research and innovation, equipping business leaders with global knowledge.
Featured Photo by Towfiqu barbhuiya on Unsplash.