Dublin City University will transform for $ 260 million with the help of the European Union
Dublin City University (DCU) presented a $ 260 million capital investment plan for the reconstruction and development of the campus.
Funding from the Strategic Investment Fund of Ireland (ISIF) and the European Investment Bank (EIB) will expand opportunities for research and innovation, will allow to build a student center, new sports facilities, additional housing at the university, as well as create “learning digital spaces of the 21st century”.
The missing funds are supposed to be received from government grants, assistance from philanthropists, the budget of the university itself, and voluntary donations from students.
The Irish Strategic Investment Fund, administered by the National Treasury Manager of Ireland (NTMA), initially allocated $ 60 million for long-term financing.These funds will be spent primarily on the construction of residential premises and structured in such a way as to simplify the parallel financing from the European Investment Bank, which will provide an additional $ 75 million, subject to confirmation of profitability and economic viability of investments.
The reconstruction project will be implemented over the next five years.