The EIB signed today a EUR 40m loan with Institut Européen d'Administration des Affaires (INSEAD). The operation, which falls within the financing framework of the European Fund for Strategic Investments (EFSI), at the heart of the Juncker Plan, will support a vast redevelopment project on the Fontainebleau site. Entitled “INSEAD Renovation Campus Europe”, this project with a total cost of over EUR 80m is designed to consolidate INSEAD’s position among the world’s leading business schools.

The European Investment Bank (EIB) signed today a EUR 40m loan with Institut Européen d'Administration des Affaires (INSEAD). The operation, which falls within the financing framework of the European Fund for Strategic Investments (EFSI), at the heart of the Juncker Plan, will support a vast redevelopment project on the Fontainebleau site. Entitled “INSEAD Renovation Campus Europe”, this project with a total cost of over EUR 80m is designed to consolidate INSEAD’s position among the world’s leading business schools.

It is the first time that the EIB - the EU bank - is financing a top management school in France. The project is fully consistent with the EIB’s priority objectives in the areas of education, innovation and energy efficiency. It will also have a positive economic impact on the region as the construction phase is expected to generate some 830 person-years of employment and the EIB’s experts estimate that more than 40 permanent jobs will subsequently be created by the project.

“This loan to INSEAD under the Juncker Plan for reviving investment in Europe 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.”

European Commissioner for Economic and Financial Affairs, Taxation and Customs Pierre Moscovici commented, “I welcome this new Juncker Plan loan which will contribute to improving the daily lives of INSEAD students. This European assistance will provide them with the necessary facilities for their personal development and professional success. It is the sign of a Europe that is helping its young people make the transition to adulthood and the world of work.”

Peter Zemsky, the Deputy Dean and Dean of Innovation at INSEAD, commented, “Since it opened in 1967, INSEAD’s Fontainebleau campus has never stopped changing and innovating in order to provide its occupants a unique experience. True to the school’s original vision, this new project is also in line with its objective to bring together people, cultures and ideas to develop responsible leaders who will have a positive impact on the world and society. The campus renovation project is in keeping with the school’s entrepreneurial spirit. INSEAD’s leading position in the area of management training is based on our deep commitment to innovation, from the creation of the first MBA programme and our integrated multi-campus model to our innovative business simulations and customised on-line programmes. These new physical spaces complement and reflect perfectly our culture of innovation.”