News / December 22, 2016

€37 million loan for UCC dental school

Image: Eolann Sheehan, Student Union president UCC, with UCC president Dr Michael Murphy and European Investment Bank vice president Andrew McDowell after they signed a landmark €100 million investment loan at University College Cork

University College Cork (UCC) has secured a loan for the ‘largest investment’ in its history.

This includes a €37 million investment to build a new Cork University Dental School, Research Centre & Hospital. The total development programme is valued at €241 million, with European Investment Bank (EIB) providing €100 million finance, and further funding through capital grants, borrowings and philanthropy.

500 new jobs are likely to be created arising from @EIB loan to UCC which will have major impact on #Cork. More https://t.co/6cpD73GtS7 pic.twitter.com/PEdZv0o0U8

— UCC Ireland (@UCC) November 25, 2016

The loan will provide much-needed renovation and new building work at University College Cork

‘This will be the largest investment in capital projects at UCC in our history,’ UCC president Dr Michael Murphy commented.

‘We are investing significantly in student accommodation, student ICT services and a new student hub as well as developing the medical, dental, paediatrics research, clinical health, innovation and research facilities to continue to fuel progress and success in these areas.’