What does EIB (European Investment Bank) announcement mean for referendum proposal?

The funding for the project is based on a long term loan. The Levy will be used to repay this loan over a period of 20 years. UL have secured a long term loan facility from the EIB, part of which will be used to fund this project, of which a portion of will be repaid by the levy.

EIB loan funding represents the best value loan finance available in Ireland. The financial benefit of these favourable terms is passed onto the students through a lower levy.