University of Limerick has secured a €100m loan from the European Investment Bank, Europe’s long-term lender, to build new facilities.
The Development Plan is expected to create a total of 1,000 jobs; 290 full-time high value positions and 710 construction-related positions.
The loan will finance almost half of the university’s €224m Capital Development Plan for 2014 – 2018, which will see the construction of 12 new projects including a new clinical research building at University Hospital Limerick and the development of a city centre campus with student residences and an academic building in Limerick city.
“Expansion of the University of Limerick’s research and academic facilities, as well as a new library and student facilities, will transform education and student life for future generations - whilst the new city centre campus will provide an economic boost and new living accommodation in Limerick. The European Investment Bank is pleased to continue its support for university investment in Ireland and help implement the University of Limerick’s Capital Development Plan, an ambitious framework for transforming education opportunities over the coming years.” said European Investment Bank vice president Jonathan Taylor.
Other highlights of the UL Capital Development Plan, which will roll out over five years, include:
- The Glucksman Library Phase 2, which will double the size of the current library facility with a dedicated climate controlled special unit
- A dedicated, purpose built training centre for the Munster Rugby Team
- A second 25m pool incorporating a diving pool
- A pitch development project which will see the development of six state-of-the-art flood lit grass training pitches
- The Bernal Building, currently under construction, which forms part of the University’s Science Zone
- Phase 2 of the Materials and Surface Science Institute which consists of a 2,750 square metre extension currently under construction
- A new student centre building including meeting rooms, social areas, student union facilities, shops, a cinema, concert facilities and a visitor centre