Ireland: Vice President of the EIB sees impact of transformational 35-Year partnership with University College Dublin during visit

University College Dublin (UCD) today welcomed the Vice President of the European Investment Bank (EIB) to the Belfield campus to see the impact of a remarkable 35-year partnership that has driven significant investments in academic, scientific, and residential infrastructure at Ireland’s largest university and to discuss how long-term investment can transform higher education in Ireland.

Since 1989, the EIB has provided €453 million to help UCD deliver its long-term vision for educational excellence by funding major projects that have transformed the campus, alongside supporting investment at all Irish universities and hundreds of schools.

“On behalf of the entire UCD community, we are honoured to welcome the Vice President of the European Investment Bank, Ioannis Tsakiris to our campus” said UCD President, Professor Orla Feely.

“The EIB's support over the last 35 years has been pivotal in shaping the university we know today—one that provides students with world-class academic facilities and a thriving student life experience.”

“Continued long-term investment is crucial to ensure that UCD can maintain and bolster an environment that nurtures innovation, learning, and the well-being of future generations,” added President Feely.

European Investment Bank Vice President, Ioannis Tsakiris, said, “The European Investment Bank recognises the essential role that investment in education plays in securing a better future for the next generation.”

“UCD’s commitment to providing top-tier academic facilities and addressing the housing challenges faced by students aligns with our priorities.”

“It is a privilege to meet UCD students and see at first hand how together the EIB and UCD have backed new campus investment that improve academic excellence and student lives, as well as contributing to addressing climate action goals," added Ioannis Tsakiris.  

The cooperation with the EIB has enabled UCD to develop world-class academic buildings in science, arts, social sciences and the humanities. In addition it funded a major expansion of UCD’s sports infrastructure and expansions in on-campus student accommodation. world-class engineering, science, law, and library facilities. In addition, the investment has supported the expansion of student accommodation, helping the university to meet growing housing demands while fostering a vibrant on-campus community.

Working with Irish universities to cut energy use and carbon emissions

The EIB’s support also underpins UCD’s commitment to environmental sustainability, with a focus on ensuring that new campus buildings and refurbishments are energy efficient and contribute to Ireland’s climate action goals.

This visit underscores the EIB’s long-standing partnership with UCD and its ongoing support for advancing educational infrastructure across Europe.

Background information

EIB Group

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances sound investment contributing to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.

The EIB Group, which also includes the European Investment Fund (EIF), signed a total of €88 billion in new financing in 2023 – 90% of it in the European Union.  These commitments are expected to mobilise around €320 billion in investment, supporting 400 000 companies and 5.4 million jobs.

All projects financed by the EIB Group are in line with the Paris Climate Accord. The EIB Group does not fund investments in fossil fuels. We are on track to deliver on our commitment to support  €1 trillion in climate and environmental sustainability investment in the decade to 2030 as pledged in our Climate Bank Roadmap. Over half of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.

Approximately half of the EIB's financing within the European Union is directed towards cohesion regions, where per capita income is lower. This underscores the Bank's commitment to fostering inclusive growth and the convergence of living standards.