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    Finance secured for UL's training base?

    EIB backs EUR €100M support for the University of Limerick

    Friday, 26th July 2013Tags: European Investment Bank, UL Capital Development Plan, Minister For Finance, Irish Education, University Arena,


    The board of the European Investment Bank, comprising directors from 28 EU member states and the European Commission, has approved a €100 million loan facility to support a major capital development plan at the University of Limerick. This long-term loan will help implement the University’s €224 million capital investment programme and will support the construction of new medical, pharmaceutical and engineering facilities, as well as expansion and refurbishment of other parts of the campus over the next few years.
    Jonathan Taylor, European Investment bank Vice President for Ireland: “The European Investment Bank is committed to long-term investment in Irish education. Approval of the significant new funding for the University of Limerick by the Bank’s board is a key step and demonstrates recognition of the importance of this flagship project. A full announcement will be made once financial and technical discussions are concluded”
    Minister for Finance, Michael Noonan stated “This is very positive news for the University of Limerick and indeed for Limerick and the wider region as a whole. I would like to congratulate Don Barry and his team on their ambitious plans for the University that have been endorsed by the board of the EIB. These plans will ensure the University is a world class campus at the heart of Limerick. One of my key tasks as Minister is to re-open financing options that had been closed off to Ireland. We have engaged extensively with the EIB since taking office and see great opportunities for EIB funded projects in Ireland. It has been nearly 30 years since UL have borrowed from the EIB and today’s announcement is an excellent example of the type of flagship project that collaboration with the EIB can deliver for Ireland.”
    Professor Don Barry, UL President said; “The approval of this loan facility clearly indicates a very welcome endorsement of UL’s development plans by the European Investment Bank. The University of Limerick is committed to investing further to develop its world-class campus and facilities. We look forward to working closely with the EIB to optimise the benefits which this will deliver for UL, for Limerick and for Ireland and the EU as we extend UL’s role as a dynamic agent of economic, social and cultural development.”
    Financial and technical details of the €100million support by Europe’s long-term lending institution are expected to be finalised later this year when a full announcement will be made. The full UL Capital Development Plan will be officially launched later in the year. This ambitious, five-year plan includes a number of exciting developments, among them: advanced research facilities for the fields of pharmaceutical science, biomedical engineering, health and energy; a clinical research education building located on the campus of University Hospital Limerick; an elite team training centre for Munster Rugby and innovative infrastructure for a range of other research, teaching and community initiatives.
    The remaining funding for UL’s Capital Development Plan will be secured from a number of sources, including philanthropic donors, State grants and University of Limerick funding. This marks the second major investment by the European Investment Bank in the University of Limerick. In 1984 the EIB provided its first ever support for a university level institution in Ireland to UL. In recent years the EIB has provided EUR 460m for Irish education, with key projects at UCD and TCD, as well as schools across the country. The University of Limerick is an independent, internationally focussed University with over 12,600 students and 1,400 faculty and staff.
    It is useless to attempt to reason a man out of a thing he was never reasoned into.

    Every plan I have is the best plan in the room. Everybody get quiet and listen to it, and everybody will win

    #2
    "an elite team training centre for Munster Rugby" - Maybe Angela approved as pre-election spending for Munster?

    Comment


      #3
      You know those guitars that are like, double guitars.

      More rubber stamps.
      I am the million man.

      Comment


        #4
        http://www.limerickleader.ie/sport/l...base-1-5874236

        Plans to be lodged for Munster’s UL training base

        by Colm Kinsella

        MUNSTER CEO, Garrett Fitzgerald revealed that a planning application for the province’s new training facility at UL will be lodged in the coming weeks.


        The new facility will be a key element in Munster’s move to a single training base in Limerick.

        Munster Rugby’s decision to opt for a single training base at the University of Limerick will allow the squad train for up to four additional hours each week, an opportunity which is currently being compromised by the province’s twin-base training system of Limerick and Cork.

        Munster announced in May of last year that the province will base their main squad training centre at UL from 2015. UL beat off stiff competition from both LIT and CIT in the battle to host the base.

        Speaking at a press briefing in UL this week, Munster CEO Garrett Fitzgerald said: “Where we are with the training centre at the moment is it’s due to go to planning in the next three to four weeks. It will obviously have to go to tender after that. It’s UL doing the thing, we’re working with them.

        “The plan initially was for July 2015, but there may be a few months to that, depending on how the planning process goes. We’re happy with where it is.”

        The new state-of-the-art, dedicated facility, located on the UL campus, will be purpose-built and is anticipated to be fully operational in 2015. The decision to establish the base at UL was taken after a lengthy consultative process involving players, management, Munster officials and an independent outside consultant.

        Munster’s future new signings will be urged to base themselves in Limerick as a result of the decision.

        Former Munster team manager, Shaun Payne said players will enjoy a ‘massive benefit’ from being able to train collectively at one centre throughout the week, rather than on a couple of days each week. He estimated that up to four hours of potential training time each week is being compromised with the current twin training base.”

        Comment


          #5
          where is Shaun Payne these days, I thought he went home to South Africa?

          Comment


            #6
            think the article was just quoting something he had said when here. he's still in SA iirc.
            "Strike me flamin' handsome!!!" - Alf Stewart

            His body is only a fuel tank for his micky - a work colleague talking about a fella he knows.

            Comment


              #7
              Any website or 3 d drawing of the proposed facility.
              \"If you can dream it, you can do it\".
              \"To the cowardly and unfaithful, nothing is possible\"

              Comment


                #8
                Once the application has been lodged, you'll be able to see the drawings on the Limerick Co.Co./City Co. website.

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                  #9
                  Hasn't Jp Mc Manus has purchased the old boarding school in Bruff with the goal of turning it into an international center of sporting excellence.??????? I wonder could that put the cat amongst the U.L pidgeons. I'm sure its years away yet. He has been a great benefactor to all aspects of munster rugby down the years. It would be hard/crazy to refuse an offer from a J.P

                  Comment


                    #10
                    Originally posted by popeye1978 View Post
                    Hasn't Jp Mc Manus has purchased the old boarding school in Bruff with the goal of turning it into an international center of sporting excellence.??????? I wonder could that put the cat amongst the U.L pidgeons. I'm sure its years away yet. He has been a great benefactor to all aspects of munster rugby down the years. It would be hard/crazy to refuse an offer from a J.P
                    Think that was linked to Limerick FC soccer club as a training base for them

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                      #11
                      Originally posted by Piquet View Post
                      Once the application has been lodged, you'll be able to see the drawings on the Limerick Co.Co./City Co. website.
                      Or Clare Co Co?
                      "I don't believe in fairytales," O'Connell once told me, "even though it feels like I've been lucky enough to live through a few. However it ends, I'll feel lucky."
                      Donald McRae, Guardian Rugby, October 2015

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                        #12
                        Originally posted by Bromance View Post
                        Think that was linked to Limerick FC soccer club as a training base for them
                        Fair enough. It would seem like a huge undertaking for Limerick f.c to run on their own. Granted, I am completely ignorant of their financial standing but i reckon it couldnt be great. I'm sure Jp would "encourage" every team in the midwest to utilise the facility. then again he's probably given a few bob to the U.L facility. I still reckon the training base should be in Charleville.

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                          #13
                          Originally posted by blackwarrior View Post
                          Or Clare Co Co?
                          No, it will be Limerick. Being built next to the current Arena.

                          Comment


                            #14
                            Originally posted by Burgers View Post
                            No, it will be Limerick. Being built next to the current Arena.
                            hmmm so at least one of the pitches or car park there is being sacrificed.. wonder will that mean the ground in the field beyond will get some proper drainage works done so pitches can be setup there.
                            Plato: \"One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors.\"

                            Comment


                              #15
                              Originally posted by lahinch_lass View Post
                              hmmm so at least one of the pitches or car park there is being sacrificed.. wonder will that mean the ground in the field beyond will get some proper drainage works done so pitches can be setup there.
                              I believe its going off of the existing Arena building but towards the bowl and wrapping left towards the all weather

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