EIB investment in education outside the EU

Abstract

Through the EIB’s Private Enterprise Finance Facility, an amount equivalent to EUR 1.1m was allocated to The Co-operative Bank of Kenya which on-lent the same to The Catholic University of Eastern Africa(CUEA) towards part-financing the construction of a learning resource centre at the Lang’ata campus, Nairobi. The facility is to used for financing of up to 50% of the total cost of each of the projects targeting private enterprises in agro industry, fishing, food processing, manufacturing, construction industry, transport, tourism, private education and healthcare and services. The bank granted Term Loan facility of Kshs. 750.0 Million for construction of Learning Resource Centre the total cost of the project being about Kshs. 1.7 Billion. The Pope Paul VI Learning Resource Centre (LRC) consists of three buildings namely a 3000 seater ultra modern Library, a 1200 seater state-of-the-art Conference facility and a 500 seater Cafeteria, all arranged around a 50m by 40m central Square and tied together by a covered walkway with outdoor seating.