MTU set to begin repaying €5m emergency loan

IT Tralee was granted the emergency loan in 2019 to assist with serious cash flow difficulties and, from next May, MTU will start repaying €250,000 per annum over 20 years 

The 2019 loan was granted to IT Tralee which has since merged with Cork Institute of Technology to form Munster Technological University. File picture: Domnick Walsh

Munster Technological University (MTU) is to start repaying the €5m emergency loan it received from Government from next May.

The technological university is to pay back the loan, granted to the Institute of Technology, Tralee in 2019 to assist with its serious cash flow difficulties, over a 20-year period at €250,000 per annum.