The University of Limerick in Ireland has secured a €100m loan from the European Investment Bank (EIB) for its €224m capital development plan, which includes construction of new facilities.
The plan, due to commence in 2014 and run until 2018, will feature 12 infrastructural developments on the university’s north and south campus and construction of a new clinical education research building on the site of the University Hospital Limerick.
As per the plans, a city centre campus will be developed apart from the construction of student residences and an academic building in Limerick City Centre.
The development will add further sports facilities to the campus, including a team training centre for the Munster rugby team, a new 25m pool and six flood lit grass training pitches. University of Limerick president Don Barry said the loan was an endorsement of the development plan.
"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," Barry added.
The university said it is currently undertaking the investigative phase of an initiative to build student accommodation in Limerick City Centre.
A new student centre will also be constructed with meeting rooms, social areas, shops, concert facilities and a visitor centre incorporating the university reception and offices.
EIB vice president Jonathan Taylor said 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.
"The new City Centre campus will also provide an economic boost and new living accommodation in Limerick", Taylor said.
After completion, the Glucksman Library phase two will double the size of the existing facility with a climate controlled special collections unit.
Image: Jonathan Taylor, European Investment Bank vice president, Professor Don Barry, UL President, Michael Noonan, Minister for Finance at the launch of the Capital Development Plan 2014 – 2018. Photo courtesy of University of Limerick.