EIB loan to fund half of Maynooth campus scheme

A European Investment Bank loan will fund half of a €150m campus development plan being unveiled at Maynooth University today.

The long-term facility will provide €76m for the scheme to build academic, research and residence facilities at the Co Kildare campus, where it is planned to grow student numbers from 10,500 to 13,000 by 2020.

The EIB has already supported third-level facilities at University of Limerick, University College Dublin, and Trinity College Dublin in recent years, providing long-term finance for investments contributing to EU policy goals.

The Maynooth University campus master plan sets out over the next five years to see the completion of €23m student apartments, a €22.5m library extension, €20.6m information and communications technology hub, and student services facilities worth €19.2m. Also planned are €18m of new teaching and learning facilities, a €14m education hub and €9m refurbishment of existing spaces.

EIB vice-president Jonathan Taylor, who will visit Maynooth tomorrow, said the university demonstrates a clear vision to develop a truly world-class campus to cater for growing student numbers.

“We are pleased to support the university’s ambitious expansion plans,” he said.

A consultation process on the plans will begin within the university today, and will be widened to a public consultation period later.

“It’s essential that our campus is able to accommodate our continued plans for growth and excellence in education,” said Maynooth University president Philip Nolan.