UCD Campus Redevelopment Supported by European Investment Bank
The European Investment Bank has agreed to fund redevelopments at University College Dublin as part of its engagement to support the knowledge economy in Ireland. The European Union’s long-term lending institution will provide €90m for the ongoing transformation of campus facilities.The European Investment Bank loans for education projects support the establishment of the knowledge economy in the European Union, which is one of the Bank's key lending priorities.
Pictured above right: Dr Hugh Brady, UCD President, and Plutarchos Sakellaris, European Investment Bank Vice President, view aerial images of University College Dublin’s 133-hectare Belfield campus.
The majority of EIB financing in human capital goes towards tangible investment in buildings and equipment, but a growing proportion goes to other investment such as academic research.
Development of the UCD campus follows European efforts to increase investment in research and higher education, and will strengthen UCD’s role in an increasingly competitive academic environment. The ability to locate both industry and academia on the same campus will help increase links between the university and key Irish companies. The campus development combines refurbishment of existing award winning buildings and provision of new facilities.
The UCD Campus Development Plan 2010–2015 will make the campus more compact, concentrating related activities and separating academic and leisure functions. The overall redevelopment aims to consolidate and enhance this position of pre-eminence by providing future generations with a sustainable, healthy, and living campus.
“The European Investment Bank is committed to ensuring that world class education and research facilities can help future generations contribute to the European knowledge economy,” said Plutarchos Sakellaris European Investment Bank Vice President responsible for Ireland.
“Redevelopment of University College Dublin will benefit students studying on a modern, vibrant and sustainable campus and foster a greater contribution to Ireland and Europe as a whole,” he said.
”UCD is committed to playing the same leadership role for Ireland in a 21st century global context that it played for the new independent Ireland in the 20th century” said UCD President, Dr Hugh Brady.
“The cutting edge teaching, research and student support facilities which this partnership with the EIB will enable will ensure that UCD consolidates and enhances its position at the top table of European universities”.
Funding from the European Investment Bank will be used to develop six buildings including the second phase of UCD’s Science Centre, construction of a new School of Law and refurbishment and construction of student accommodation.
