European Investment Bank invests €75m in TCD science facility

1 Dec 2008

The European Investment Bank (EIB) has financed the construction of a €75m biomedical sciences research and training facility at Trinity College Dublin (TCD).

The development will accommodate up to 1,000 biomedical science researchers, and will build on TCD’s strengths and human capital in the health-related areas of neuroscience, oncology, infection & immunity and genetics.

The EIB loan to TCD is the first of its kind to an Irish university.

“I expect the new facility to be instrumental for Ireland, stimulating R&D to build an economy driven by knowledge and innovation,” said Plutarchos Sakellaris, EIB vice-president, who oversees lending activities in Ireland.

“This is a key EU priority, and one which the EIB actively fosters through our lending operations.”

The project also directly supports the Irish Government’s strategy for science, technology and innovation. The extended capacity offered by the new biosciences institute will allow for increased numbers of researchers, and will enable TCD to form closer links with private-sector biomedical companies.

The planned 11-storey facility will be located close to TCD in central Dublin, and will house both academic and commercial office space. The building is aligned to the 2005-2011 Development Plan for the Irish capital, and over 1,000 people are expected to be employed during its construction.

The European Investment Bank lent €2.6bn to support key investment in Ireland from 2003 to 2007.

In 2007 alone, the EIB signed over €345m to support investment underpinning the Irish economy, financing projects helping regional development, strengthening the security of energy supplies and modernising the transport system, as well as supporting the activities of small- and medium-sized enterprises.

In 2008, the EIB lent a further €200m to develop Ireland’s international transport hub, Dublin Airport, to encourage the country’s economic growth.

By John Kennedy

Pictured: the Trinity College campus in central Dublin

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years