Maynooth University (MU) is about to invest €150m into a variety of faculties across the college following a loan approval from the European Investment Bank (EIB).
The Co Kildare college, will construct state-of-the- art academic, research and residence facilities to as it prepares to grow its enrolments by almost 20pc in the next five years.Half the money will be provided by the EIB on a 23 year fixed loan, at a 2pc interest rate and the university will fund the balance from its resources.
Maynooth is one of a number of Irish universities that turned to the EIB for funding for infrastructural development in the face of the lack of cash in State coffers.
The projects represents the first phase of a Campus Master Plan that will facilitate the university’s growth to 13,000 by 202, from thr current 10,500.
University president Professor Philip Nolan said it was a “milestone in the journey of Maynooth University. We are developing our campus facilities to facilitate the rapid increase in student enrolment we have experienced”.
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