A major new investment in a technical university cements the reputation of the Romanian city of Cluj as a hotbed of talent, innovation and technology.
The Transylvanian city of Cluj, which earlier this year became the first in emerging Europe to make it to the final stage of the European Capital of Innovation Award, has for some time been viewed as Romania’s leading hub of technology and innovation.
In a nod to this success, and with a view to building on it, the city’s Technical University, UTCN, last week received a loan worth 21 million euros from the European Investment Bank (EIB). The loan is the first granted under the EIB’s 100 million euros Romania Higher Education Programme and is guaranteed by the European Fund for Strategic Investments, the core of the Investment Plan for Europe – also known as the Juncker Plan after its chief architect, former European Commission President Jean-Claude Juncker.