Oxford University has been loaned a record £200 million by The European Investment Bank, as it looks ot expand it's research and teaching facilities. The loan represents the largest of its kind to a university by the EIB (the long-term, non-profit investment arm of the European Union).

With a repayment period of 30-years, the loan will represent a significant long term commitment by the university, which will use the funds alongside other donations, grants and financing to make it's new plans a reality.

Among the targets of the renovations and new developments are the old Radcliffe Observatory Quarter (already seeing extensive development of new accommodation, alongside the £75 million Blavatnik School of Government) and the Old Road Campus out past Oxford Brookes.

Image courtesy of Flickr, Creative Commons.