European Investment Bank funding for seven new schools

The EIB are providing approximately 40 per cent of the overall project cost, which equals £63.3 million. For the entire second phase of the PSBP, the EIB have agreed to provide £274 million under a 25 year lending agreement.

John Taylor, Vice-President of the EIB, commented: "The European Investment Bank is committed to supporting long-term investment that improves education across Europe. Secondary school students across Hertfordshire, Berkshire and Bedfordshire will have an even better education in the future following today’s agreement."

Taylor also commented: "Local construction companies will also benefit from the construction work in these and other schools across the country under the wider Priority School Building Programme. Over recent years thousands of school, higher and further education students across the UK, have benefited from EIB backed investment in better facilities and modern learning environments."

The seven schools to receive support include five in Hertfordshire; Kings Langley School, Westfield Academy in Watford, Bishop Hatfield Girls School, Goffs School in Cheshunt and Longdean School in Hemel Hempstead. The other two schools to benefit from the latest initiative are Reading Girls School and Stopsley High School in Luton.

Support by the EIB for 12 schools in the North East under the first wave of the PSBP was announced earlier this month. The EIB is committed to investing in education across the UK, and have supplied nearly £2.5 billion to the sector over the last decade.

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