Irish government funding worth £38 million will boost student numbers at Magee Campus in Londonderry.

The Ulster University site in Londonderry will benefit from a new teaching and student services building, as well as the expansion of other facilities, as part of the Irish government’s Shared Island Unit funding.

It is expected the investment at Magee will eventually allow student numbers to jump from the current 5,000 to around 6,500.

Confirming the funding boost, Irish foreigh affairs minister Micheal Martin said: “The investment decisions made today... will further deepen the people to people links across this island, including in such important areas as health and education.Mr Martin added: “The Shared Island Initiative is forward looking and optimistic for the future of this island. I am ambitious for the island and for the initiative, and look forward to continued investment in building a connected, prosperous and sustainable island”.Foyle MP Colum Eastwood described the announcement as a “great day for Magee and the people of Derry”.

The SDLP leader said: “Growing Magee into a properly resourced university that serves the whole North West region has been one of the defining goals in my political career.

"It has the potential to deliver so much for our city, boosting our economy, attracting jobs and investment, allowing us to keep more of our young people and finally delivering on a key objective of the civil rights movement.”

Sinn Fein deputy leader Michelle O’Neill said the investment will “help to continue the redevelopment and regeneration of the North-West, growing the economy and creating better opportunities,” and added: "I am committed to the full expansion of Magee University, and in a new Assembly I am determined to deliver investment in the North-West and border communities to transform the lives of all our people and communities."

Londonderry Chamber president Selina Horshi said the money will help address “regional disparities”.

She said: “The Chamber warmly welcomed the creation of the Shared Island Fund... and made the case strongly that these funds should be used to address long-standing regional disparities and inequalities in Derry and the North West.

"This is a significant capital investment which will support Ulster University in its ambitions to grow student numbers in our city.”