The University of Ulster has secured a £150 million loan from the European Investment Bank that will support key campus development works.
The announcement was made today at Ulster’s Belfast campus by Professor Richard Barnett, Vice Chancellor of the University and Jonathan Taylor, Vice President of the European Investment Bank.
The main project to benefit will be the University’s landmark Belfast City campus development, a £250 million project that will relocate most of the Jordanstown campus to Belfast City Centre by 2018. Ulster is also investing a further £55m in upgrades at its Magee, Coleraine and Jordanstown campuses.
Professor Barnett said: “This commitment from the European Investment Bank is a major vote of confidence in the University, in our ambitious development plans and in the future of Northern Ireland.
“As a University that is leading in widening access to higher education, it is important that our students enjoy facilities that match their aspirations. These investments in our campuses will build on our existing strengths, providing a world class learning environment for our students and an excellent working environment for our staff.
“The benefit to higher education combined with the wider positive impact on the economy, will ensure the university’s investment leaves a lasting legacy for future generations. The Belfast City campus development alone will create more than 5000 construction and related jobs during the build and fit out period, providing much needed employment and salaries into local communities.”
Jonathan Taylor said: “Investment in education is essential to ensure Europe’s competitiveness in the global arena and enable future generations of students to innovate and benefit from new opportunities.
“The clear vision of the University of Ulster’s scheme will help deliver both educational and economic benefits across Northern Ireland both during construction and in the years to come. We are committed to supporting similar quality investment in key infrastructure in Northern Ireland in the future.”