Trinity College Dublin today announced the details of a €70 million long-term European Investment Bank (EIB) loan.
Teaching, research and student accommodation at Trinity will be transformed over the next two years with the funding.
This will include the new Trinity Business School which is currently under construction, the development of campus student accommodation at Oisín House, and new premises for Trinity’s Institute of Population Health in Tallaght.
In addition to Trinity’s loan, UCC in Cork is being supported with a €100 million loan.
The EIB has now made record education lending in Ireland this year following a €200 million backing for school investment agreed last month.
This is the second EIB loan received by Trinity, in 2008 it received a €75 million loan for research investment at the University’s Trinity Biomedical Sciences Institute.
Andrew McDowell, Vice President of the European Investment Bank said: “New investment to improve teaching, research and student facilities is essential to unlocking new ideas and scientific discoveries and the European Investment Bank is committed to supporting investment at leading universities across Europe. The loans being announced this week will strengthen research and learning across a broad range of disciplines at Trinity. It will ensure that Irish universities continue to be at the forefront of global research.”
Dr Patrick Prendergast, Provost of Trinity College Dublin said: “We are investing in educational and research facilities for the benefit of all our students and staff. This week Trinity joined the League of European Research Universities (LERU) Europe’s leading network of research intensive universities whose main focus is to build on the research and educational strengths of all its partners.”
Source: www.businessworld.ie
