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EU bank to finance Brandenburg research

The state bank of Brandenburg has signed a deal with the European Investment Bank that will free up €385 million in loans for universities and research institutes.

The Investitionsbank des Landes Brandenburg will be able to provide the money in loans for research activities, equipment and modernisation projects at universities. A share of the funding will also be available for collaboration, it was announced on 25 November.

Brandenburg, formerly a part of the German Democratic Republic, counts as a “convergence region”, with a GDP of less than 75 per cent of the EU average, and thus qualifies for special EU funding deals. The money is intended to improve the region’s competitiveness and scientific capacity.

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