The European Investment Bank (EIB) is promoting the construction of a leading biomedical sciences research and training facility at Trinity College Dublin through EUR 75 million financing for the university.

The development will accommodate up to 1,000 biomedical science researchers and will, build on Trinity’s strengths and human capital in the health related areas of neuroscience, oncology, infection & immunity and genetics. The EIB loan to Trinity College - the first of its kind to an Irish university - was finalised at a signature ceremony in Dublin on 27 November 2008 in the presence of Dr John Hegarty, Trinity’s Provost.

Plutarchos Sakellaris, EIB Vice President who oversees lending activities in Ireland, said, “The EIB is delighted to work with Trinity College Dublin to implement its strategic objective to position itself as the world reference point for biomedical research. I expect the new facility to be instrumental for Ireland, stimulating research and development to build an economy driven by knowledge and innovation. 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 Trinity to form closer links with private sector biomedical companies.

The planned eleven-storey facility will be located close to Trinity College 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 1000 people are expected to be employed during its construction.

Background Notes:

The EIB in Ireland

The European Investment Bank lent EUR 2.6 billion to support key investment in Ireland from 2003 to 2007. In 2007 alone, the EIB signed over EUR 345 million 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 EUR 200 million to develop Ireland’s international transport hub, Dublin Airport, to encourage the country’s economic growth.