What will Dublin’s €44.5m allocation for Magee College do? Here are the details...

The funding boost was announced on Tuesday as part of an overall €56m cross-border allocation from the Irish Government’s €500m multi-annual Shared Island Fund which runs until 2025. The Government has now allocated €247m from the Shared Island Fund.

The project will be progressed by the Minister for Further and Higher Education, Research, Innovation and Science Simon Harris and his Department working with Ulster University and in continuing consultation with the Department for Economy in Northern Ireland, the Department of the Taoiseach announced on Tuesday.

It stated: “The new teaching building is part of Ulster University’s development plan to provide a campus that can increase student numbers in Derry to 6,500 and beyond.

“The new teaching building in Derry will provide additional lecture and seminar spaces, computer labs and on-campus student services. It will also free up space in other buildings on campus for teaching and research activity.

“The Government will provide 85 per cent of the estimated cost of construction, with Ulster University to cover the balance and any additional costs.

“Capital investment at Ulster University’s campus in Derry is also supported by the Executive and UK Government, including through the Derry City Deal.

“The project has a strong cross-border dimension, directly supporting the significant and expanding joint undergraduate and postgraduate course provision and research collaboration by Atlantic Technological University (Donegal) and Ulster University.

“Further development work will also be undertaken by the North West Tertiary Education Cluster (NWTEC) on innovative pathways to further and higher education in the region on a cross-border basis.

"The NWTEC is composed of ATU (Donegal) and Donegal Education and Training Board, with Ulster University in Derry and North-West Regional College in Northern Ireland.”

Other Shared Island Fund allocations:

All-island bioeconomy demonstrators - €7m

€7m Shared Island Fund allocation to the total cost for construction of two bioeconomy demonstrator facilities to support integration of bio-based innovation in the agriculture and marine sectors across the island. A facility will operate in each jurisdiction and at least 50% of Shared Island resourcing will be for project delivery in Northern Ireland.

The Department for Agriculture, Food and Marine is bringing together the overall package for the project, which will be progressed through a competitive funding call later this year, run in partnership with the Department of Agriculture, Environment and Rural Affairs in NI.

Respite therapeutic centre for children diagnosed with cancer and their families - €2.5m

€2.5m Shared Island Fund allocation to the funding for a new respite and therapeutic centre for children diagnosed with cancer and their families from across the island.

The Minister and Department for Health are bringing together an overall funding package, which will be announced with further information on the project. The project is aligned with the National Cancer Strategy 2017-2026 and will complement and add to existing North/South cooperation on cancer.

Completion of Narrow Water Bridge tender stage - €2m

The Government in November 2022 decided to proceed with a tender, which was commenced by Louth County Council in April and is due to conclude in October. €2m has been allocated for the tender stage.

Budget 2022: McGrath pledges €50m of €500 Shared Island Unit spend next year and welcomes €1bn PEACE PLUS pot