The European Investment Bank (EIB) is lending EUR 300 million to finance the final phase of construction of the Large Hadron Collider (LHC) at CERN, the European Organization for Nuclear Research. The loan will also help to finance the instrumentation to record and analyse the high-energy particle collisions at the LHC. A loan to enable construction of this major project was foreseen by CERN’s governing Council when it approved the LHC in 1996.
The EIB, the European Union’s long term financing institution, is supporting the project as it promotes EU policies for European Research & Development (R&D) and the dissemination of innovation. The EIB, as the EU’s policy driven bank, is committed to supporting European R&D with innovative financing. Recently, the EIB widened its scope for R&D financing to include large research infrastructure projects such as the CERN LHC project. In conjunction with the European Commission, the EIB is ready to finance the development of EU Advanced Technological Research and to implement the Sixth Research Framework Programme on R&D, which was launched last month in Brussels. The European Commission is in charge of implementing this EUR 17.5 billion Programme.
CERN’s Large Hadron Collider provides physicists with an unrivalled high-tech tool to study fundamental physics. It will enable the European Union to maintain its leading role in fundamental research in the field of particle physics. Although its raison d’être is essentially scientific, there are also important knock-on benefits for European high-tech industries. With the largest set of interconnected accelerators in the world, CERN is contributing to the “knowledge society” by providing a competitive working environment for direct research and the training of hundreds of top scientists and engineers each year.
Christine Sutton | alfa
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