09/12/2013

UL Launches Capital Development Plan

The European Investment Bank has agreed to provide €100m for the University of Limerick's Capital Development Plan 2014 – 2018.

The European Investment Bank loan was formally agreed by Professor Don Barry, President of the University of Limerick and Jonathan Taylor, European Investment Bank Vice President responsible for Ireland, and witnessed by Michael Noonan TD, Minister for Finance and Governor of the European Investment Bank.

The university's €224m Capital Development Plan consists of 12 infrastructural developments on the University's north and south campus, construction of a new Clinical Education Research building on the site of the University Hospital Limerick, and development of a City Centre Campus including student residences and an academic building in Limerick City Centre.

"Our Plan outlines our vision for the future development and expansion of the University of Limerick covering 50,000 square metres of state-of-the-art research, student, sports and academic facilities.

"The granting of this loan facility clearly indicates a very welcome endorsement of UL's development plans by the European Investment Bank. We look forward to working closely with the EIB to optimise the benefits which this will deliver for UL, for Limerick and for Ireland and the EU as we extend UL's role as a dynamic agent of economic, social and cultural development.

"UL is committed to making a major contribution to the Limerick 2030 Economic and Spatial Plan which will allow us all to work in partnership to deliver a true renaissance of Limerick," said Professor Don Barry, President of the University of Limerick, speaking at the launch of the UL Capital Development Plan 2014-2018.

"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 Jonathan Taylor, European Investment Bank Vice President.

Some 1,000 jobs are expected to be created over the lifetime of the Development Plan with 290 full-time high value positions and 710 construction related positions over the period of the plan.

The off-campus capital developments are valued at €62m and represent 30% of the overall investment of the Development Plan. Funding for the remainder of UL's Capital Development Plan will be secured from a number of sources, including philanthropic donors, state grants, commercial activities and University of Limerick funding.

(CD/JP)

Related Irish News Stories
Click here for the latest headlines.

14 June 2013
Radical Limerick Regeneration Plan Launched
Three Ministers have unveiled a radical plan to transform the economy of Limerick. €250 million will be invested over the next two decades as part of the 'Limerick 2030 – An Economic and Spatial Plan for Limerick’, which is hoped could potentially create some 5,000 new jobs.
26 April 2016
Searches Launched Across Limerick City
Up to 20 searches are being carried out across Limerick City this morning, 26 April, as part of an operation targeting criminal activity. Gardaí launched the operation in the early hours of Tuesday morning and the operation is ongoing. One man, aged in his 20s, has been arrested under the provisions of Section 4 – Criminal Justice Act 1984.
08 October 2015
Limerick College Website Hacked By Group Claiming To Be ISIS
An investigation has been launched after a Limerick college's website was hacked by a group claiming to be from the Islamic State of Iraq and Syria (ISIS). The message on the website of Central College Limerick read: "THIS WEBSITE HAS BEEN HACKED BY THE ISLAMIC STATE IN SYRIA (ISIS)." "IRELAND EXPECT US".
18 May 2015
Two Bodies Discovered In County Limerick
Two bodies have been discovered at a house in County Limerick. The bodies, of a man and a woman, were found in the bedroom of a house in Boolaglass at around 3am on Monday. The State Pathologist has been notified and an examination is expected to take place. Gardaí are appealing to anyone with information to contact them.
08 July 2014
Body Confirmed As Missing Galway Man
Gardaí have confirmed they have found the body of missing Galway man Adrian Folan. Mr Folan had been missing since last Thursday, when he was last seen in Athlone. Gardaí say that a body found in a disused quarry near the village of Liscannor in north Clare is that of Mr Folan, and that the death is being treated as suspicious.