Universities to receive loans to build 2,700 student beds

Universities in Ireland are to get access to low-interest loans to construct an estimated 2,700 beds on college campuses across the country over the coming years, writes Carl O’Brien for The Irish Times.

Minister for Further and Higher Education Simon Harris was due to announce details of a €434 million (US$458 million) partnership between the European Investment Bank and the Housing Finance Agency on Thursday 26 October. It comes as many third-level institutions complain that the cost of building accommodation is no longer economical, given rampant inflation in the construction sector. As a result, they have said the high cost of construction meant they could not offer new accommodation at an affordable rate to students.

Government officials say the new initiative will provide long-term financing to Irish higher education institutions at much lower rates to support the construction of new accommodation as well as the renovation of existing campus buildings to improve facilities and energy efficiency.
Full report on The Irish Times site