MYRRHA (Multi-purpose hYbrid Research Reactor for High-tech Applications) is the flexible experimental accelerator-driven system (ADS) in development at SCK•CEN in replacement of its material testing reactor (MTR) BR2. The MYRRHA-facility, currently developed with the aid of the FP7-project "Central Design Team" is conceived as a flexible irradiation facility, able to work in both subcritical and critical modes. In this way, MYRRHA will allow fuel developments for innovative reactor systems, material developments for GEN IV systems, material developments for fusion reactors, radioisotope production for medical and industrial applications, and Si-doping. MYRRHA will also demonstrate the ADS full concept by coupling the three components (accelerator, spallation target and subcritical reactor) at reasonable power level to allow operation feedback, scalable to an industrial demonstrator and allow the study of efficient transmutation of high-level nuclear waste. Since MYRRHA is based on the heavy liquid metal technology, lead-bismuth eutectic, it will be able to significantly contribute to the development of Lead Fast Reactor (LFR) Technology and in critical mode, MYRRHA will play the role of European Technology Pilot Plant in the roadmap for LFR. In this paper the historic evolution, international positioning and the set-up of the international members' consortium of the MYRRHA-project and the rationale behind the design choices are presented. Also, the latest configuration of the reactor system is described together with the different irradiation capabilities. More specifically, the possibilities and performances for fuel irradiations are presented in more detail.