Glasgow schools get largest European loan

News on 4 September 2000
Glasgow schools get largest European loan
The European Investment Bank, the European Union's long-term financing institution, is lending £105m to modernise 29 schools in Glasgow. The finance goes to 3ED (Glasgow) Ltd, owned by The Miller Group, Amey plc and Halifax plc, selected by Glasgow City Council, to re-build, refurbish and modernise 28 secondary schools and one primary school in the city (see News story).The project also includes the provision of an information and technology system in each of the secondary schools. Commenting on the financing, EIB Vice-President Peter Sedgwick said: "The EIB is very pleased to be financing this investment in Glasgow schools as it will substantially improve the educational infrastructure for all secondary school students in Glasgow and will in particular, by incorporating ICT facilities (Information and Communication Technologies), facilitate and encourage the development of new information technology skills by all pupils. The EIB loan of £105 million is the largest EIB loan made to the educational sector in the UK to-date and is part of its on-going investment programme in this sector both in Scotland and elsewhere in the United Kingdom." Richard Byatt