25/10/2010 (Agence Europe) - Funding for education and innovation will receive a significant boost from a targeted £500 million financing package, announced on Tuesday 19 October, to three UK banks (Royal Bank of Scotland, Lloyds Banking Group and Santander UK) from the European Investment Bank (EIB). Formal agreement was reached on that date for the first tranche of the UK Knowledge Economy loan that will provide £150 million for higher and further education facilities, science parks and incubation centres. Further funding will be available next year as additional projects are identified and other banks are expected to join the programme. Overall investment in projects supported by the UK Knowledge Economy loan is expected to reach more than £2 billion. (O.L./transl.rt)