12 new schools in the North East following bank support
The EIB, the lending institution of the European Union, will be involved in the construction of 40 new state schools under the Priority School Building Programme (PSBP), contributing an overall sum of approximately £274 million. Construction is set to take place in the coming weeks on new sites and existing school structures.
Jonathan Taylor, Vice President of the EIB, said of the announcement: "The European Investment Bank is committed to supporting long term investment that improves education across Europe and in the UK thousands of primary and secondary school pupils, and students in higher and further education have benefited from investment in better facilities and modern learning environments following EIB backed education projects."
The investment will be divided between six primary schools and six secondary schools. Mandale Mill in Stockton on Tees, Hylton Castle Primary in Sunderland and Lingey House in Gateshead are among the primary schools to benefit, whilst Bedlingtonshire Community High in Northumberland and Seaham School of Technology in County Durham are two of the six secondary schools chosen.
The EIB has provided nearly £2.5 billion for education investment across the UK in the last decade, including campus development for several major universities and support for the Building Schools for the Future programme. The long term loans from the EIB will be for around 25 years and represent around 40 per cent of the overall project cost.
Latest News
24/01/2025 - 10:18
The London Borough of Haringey boasts the smallest gap between SEN (Special educational needs) and non-SEN students among London boroughs, data finds.
23/01/2025 - 09:50
Scotland is going to change its funding system which covers universities, colleges, and apprenticeships, as well as students support.
22/01/2025 - 10:14
Funding for the Scottish Government’s Fairer Futures Partnerships will be doubled to more than £6 million by the 2025-26 budget.
22/01/2025 - 09:59
The Education Secretary, Bridget Phillipson, has opened the Bett Show in London, outlining the DfE's plans to harness technology to transform teaching and the sector.
21/01/2025 - 10:43
A major new study from The University of Manchester has found that bullying has a significant negative impact on the mental health of teenagers and calls for schools to have more effective prevention strategies.
