The Minister for Education and Skills, Ruairí Quinn T.D., today warmly welcomed the decision of the European Investment Bank (EIB) to actively support and assist the Government’s plans for investment in the country’s educational infrastructure. The EIB is providing a €100 million loan to support the Department of Education and Skills’ capital investment programme.
Minister Quinn unveiled a five year plan Schools Capital Programme earlier this year (
http://www.education.ie/home/home.jsp?maincat=10861&pcategory=10861&ecategory=10876§ionpage=12251&language=EN&link=link001&page=3&doc=56781 ) worth €1.5 billion. This will see a total of 275 major school buildings projects commenced between now and 2016. The €100 million loan being provided by the EIB will assist in funding this investment.
It is expected that the EIB loan will be used in the construction and upgrading of 35 primary and 12 second level schools around the country.
Minister Quinn said, “This decision by the EIB to loan €100 million to support the Government’s Capital Investment Programme is a very clear signal of the Bank’s renewed confidence in the Irish State and our recovery programme.”
“The loan will prove immensely beneficial in enabling my Department to implement our five year school building programme in the most cost effective manner for the taxpayer.”
“I want to thank the EIB and President Hoyer for their co-operation and goodwill and I look forward to continuing our engagement with the bank.”
The European Investment Bank is the long-term lending institution of the European Union. It is owned by the Member States of the Union.
Werner Hoyer, President of the EIB, said “Without a good education, Europe’s children will not be able to compete in a global economy. This new funding, to provide thousands of places in Irish schools, will directly benefit children across Ireland and improve the quality of their education. The European Investment Bank is pleased to work closely with the Department of Education and Skills to address the pressing need to increase school capacity in Ireland to match increased pupil numbers.”
Total enrolment in Irish schools is expected to grow by around 70,000 students between now and 2018 – by over 45,000 at primary level and 25,000 at post-primary level. Construction work on the 47 schools supported by this initiative is expected to be completed by 2014.
The loan will be managed by the National Treasury Management Agency on behalf of the State.
ENDS
For more information please contact Sarah Moroney 01 8892162 or 087 7720570
Editors’ Note:
The following are among the likely beneficiaries from this initiative. The 47 schools (35 primary and 12 second-level) are part of the Department of Education and Skills five year capital investment programme announced in March 2012.
District School
Carlow Carlow Educate Together
Cavan Carrigabruise National School, Virginia
Clare Ennis National School
Cork Rathcormac NS
Cork Gaelscoil Ui Riordain
Cork Gaelscoil Chloch na Coilte
Cork Scoil Phadraig, Rochestown
Cork Carrigaline CS, Waterpark Road, Carrigaline
Cork Scoil Nioclais, Frankfield, Grange
Cork Scoil Mhuire, 2 Sydney Place, Wellington Road
Cork Ashton Comprehensive School, Blackrock Road
Donegal St. Patrick's NS, Lurgybrack
Donegal Gaelscoil Adhamanain, Letterkenny
Dublin Stanhope Street Convent Primary School, Dublin 7
Dublin Inchicore NS
Dublin Mulhuddart National School
Dublin Scoil Choilm Community National School
Dublin Luttrellstown CC
Dublin Senior College, Dún Laoghaire
Dublin St. Mary's NS, Airlie Heights, Woodview, Lucan
Dublin Belgard Ballycragh NS, Ballycragh, Firhouse, Tallaght, Dublin 24
Dublin Belgard Gaelscoil Eiscir Riada
Dublin Fingal Scoil Bride Blanchardstown
Dublin Fingal Stephenstown Balbriggan Scoil Chormaic
Dublin Fingal Thornleigh ET
Dublin Fingal Swords Holywell ET
Dublin Fingal Blanchardstown West ETNS
Dublin Fingal Ardgillan Community College
Dun Laoghaire/Rathdown Holy Trinity NS
Galway Oughterard NS
Galway Tirellan Heights NS, Headford Road
Galway Coláiste Iognáid
Kildare Scoil Phadraig, Ballylinan, Athy
Laois Portarlington Convent NS
Limerick Ardscoil Ris, North Circular Rd
Limerick St. Munchin's College, Limerick City
Limerick Kilfinane National School
Longford Edgeworthstown NS
Longford St. Matthew's Mixed NS, Ballymahon
Louth St. Francis' NS, Dundalk
Mayo Our Lady's Secondary School Belmullet
Meath SN Realt na Mara (B) &Realt na Mara Girls
Meath Dunshaughlin Community College
Tipperary Scoil Mhuire Presentation Secondary School, Ballingarry, Thurles
Waterford Gaelscoil na Deise, Grace Dieu Road, Waterford
Waterford Waterford Educate Together NS
Wicklow St. Catherine's Special School, Newcastle