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PRESS RELEASE

BEI/12/96

6 July 2012

European Investment Bank agrees to fund 550 new classrooms across Ireland

The European Investment Bank today formally agreed to provide EUR 100m to the Irish government for capital investment in schools across Ireland over the next 2 years. The initiative was launched in Dublin by Ruairí Quinn, TD, Minister for Education and Skills and European Investment Bank President Werner Hoyer.

The programme will build more than 550 new classrooms, and involve modernisation and construction in 35 primary and 12 secondary schools. The 25 year loan from the European Investment Bank, the long-term lending institution of the European Union, will form part of the Irish government’s EUR 219m school expansion programme to be managed by the Department of Education and Skills

Ruairí Quinn, TD, Minister for Education and Skills said, "The funding to be provided by the EIB will support the implementation of the five year construction programme which I announced earlier this year. The long-term loan provides a more efficient and cost effective means of funding this programme than would otherwise be possible. It is a very welcome development and is good news for the taxpayer, not to mention pupils and teachers across the nation."

“Without a good education, Europe’s children will not be able to compete in a global economy. This new funding, to provide thousands of new 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.” said European Investment Bank President Werner Hoyer.

The scheme will significantly improve teaching conditions and provide new facilities for an 15,500 primary pupils and 6,650 secondary students. Increased enrolment capacity is necessary given the baby boom over the last decade and expected need for 70,000 additional school places over the next seven years. The school investment programme will focus on ensuring additional capacity in areas of rapid population growth based on projections by the Department of Education’s Forward Planning Section.

Construction works supported by the initiative started in January and are expected to be completed by December 2014. The funding has been agreed with the National Treasury Management Agency, NTMA, which acts on behalf of the Irish State as for all Exchequer borrowing. The Department of Education and Skills will managethe construction programme and supervise operation of the schools.

A high-level European Investment Bank is in Dublin for a two day official visit. This includes meetings with the Taoiseach and ministers of Finance, Public Expenditure and Reform, and Education.

Notes to editors:

The European Investment Bank:

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.

Press contact:

  • European Investment Bank: Richard Willis, Tel: +352 621 555 758, willis@eib.org

Website: www.eib.org/press - Press office: +352 4379 21000 – press@eib.org

Overview of schools to benefit from this initiative

The Department of Education and Skills is responsible for the selection of individual schools to be included in the expansion and modernisation programme.

The following schools are expected to benefit from the initiative:

District

School

Carlow

Carlow Educate Together

Cavan

Carrigabruise National School, Virginia

Clare

Ennis National School

Cork

Rathcormac NS

Cork

GaelscoilUiRiordain

Cork

GaelscoilChlochnaCoilte

Cork

ScoilPhadraig, Rochestown

Cork

Carrigaline CS, Waterpark Road, Carrigaline

Cork

ScoilNioclais, Frankfield, Grange

Cork

ScoilMhuire, 2 Sydney Place, Wellington Road

Cork

Ashton Comprehensive School, Blackrock Road

Donegal

St. Patrick's NS, Lurgybrack

Donegal

GaelscoilAdhamanain, Letterkenny

Dublin

Stanhope Street Convent Primary School, Dublin 7

Dublin

Inchicore NS

Dublin

Mulhuddart National School

Dublin

ScoilChoilm 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

GaelscoilEiscirRiada

Dublin Fingal

Scoil Bride Blanchardstown

Dublin Fingal

Stephenstown Balbriggan ScoilChormaic

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

ColáisteIognáid

Kildare

ScoilPhadraig, Ballylinan, Athy

Laois

Portarlington Convent NS

Limerick

ArdscoilRis, 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 Realtna Mara (B) &Realtna Mara Girls

Meath

Dunshaughlin Community College

Tipperary

ScoilMhuire Presentation Secondary School, Ballingarry, Thurles

Waterford

GaelscoilnaDeise, Grace Dieu Road, Waterford

Waterford

Waterford Educate Together NS

Wicklow

St. Catherine's Special School, Newcastle


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