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Ireland: EIB to provide EUR 100m for investment in school building projects

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Ireland: EIB to provide EUR 100m for investment in school building projects

  •  Release date: 31 July 2013
  •  Reference: 2013-122-EN

School building projects across Ireland will benefit from a new EUR 100 million long-term loan from the European Investment Bank formally agreed in Dublin today. Under the initiative Europe’s long-term lending institution will help finance the Irish Government’s school capital investment programme to build new schools and extend/refurbish others over the next three years.

The current initiative will include a total of 49 large scale school projects consisting of 34 primary schools and 15 second level schools. The overall project will be managed and implemented by the Department of Education and Skills which has determined the most suitable schools to benefit from the European Investment Bank backed investment scheme. The lending programme represents the fourth significant engagement by the European Investment Bank to support long-term investment in Irish schools in the last three years, representing nearly EUR 400 million.

The 25 year loan for the Irish Schools Investment Programme was signed in Dublin today by Ruairí Quinn, TD, Minister of Education and Skills, Jonathan Taylor, European Investment Bank Vice-President responsible for Ireland and John Corrigan, CEO of the National Treasury Management Agency.

“The latest funding for Irish schools to be provided by the EIB will provide additional school places and improve education facilities across the country. This long-term engagement by the EIB provides a cost-effective way to pay for much needed investment and further demonstrates the EIB’s confidence in Ireland and the economic recovery programme.” said Ruairí Quinn, TD, Minister of Education and Skills.

“Investment in education is essential to help Europe’s children gain skills necessary for the future. The European Investment Bank is pleased to support investment in Irish education that will directly benefit around 25,000 pupils and improve learning facilities where most needed. The EIB’s continued close cooperation with the Department of Education and Skills has helped both the construction sector and schools during challenging times.” said Jonathan Taylor, European Investment Bank Vice President responsible for Ireland.

Schools across Ireland will benefit from the initiative that includes investment in counties Cork, Dublin, Galway, Kildare, Kilkenny, Laois, Limerick, Louth, Meath, Monaghan, Offaly, Westmeath, Wexford and Wicklow. Some 11 of the schools to benefit from this investment are located in convergence regions.

The borrower for the European Investment Bank loan is the National Treasury Management Agency, which is responsible for borrowing on behalf of the Irish Government. The Department of Education and Skills is responsible for project implementation. The National Development Finance Agency will advise on certain aspects of the programme.

Over the last three years the European Investment Bank has provided nearly EUR 400 million for long-term investment in Irish schools and universities. This includes EUR 150 million last year for schools, by way of direct lending and for the first PPP education project in many years, and EUR 90m for University College Dublin in 2011.

During 2012, the European Investment Bank provided nearly EUR 505 million in long-term low-cost loans for key investment in projects across Ireland. This included financial support for investment in education, renewable energy and the water sector, as well as dedicated lending for small business investment in cooperation with leading banks active in the country. Lending in 2012 was greater than the EUR 475 million provided in 2011.

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:

Cork

Gaelscoil An Ghort Alainn, Aibinne Murmont, Gort Alainn, Corcaigh

Douglas BNS, Douglas, Co Cork

SN na Scairte Leithe, Saleen Cloyne, Midleton, Co Cork

St Joseph's & St John's NS, Kinsale, Co Cork

Kanturk BNS & SN an Chlochair, Kanturk, Co Cork

Carrigaline Educate Together NS

Dublin

New Lusk PP (Phase 1 - Rapid for 350 students)

Skerries ETNS, Barnageeragh Cove, Kellys Bay, Skerries, Co Dublin

Scoil Choilm, Porterstown Rd, Clonsilla, Dublin 15

New School Flemington-Balbriggan, Co Dublin

New 1,000 pupil School, Mulhuddart, Dublin

New 1,000 pupil School, Balbriggan/Stephenstown, Dublin

Luttrellstown CC, c/o Institute of Horology, Mill Rd, Blanchardstown, Dublin 15

Hansfield Post-primary, Hansfield, Dublin 15

Holy Family NS, Rathcoole, Co Dublin

SN Caitriona, Kenure, Rush, Co Dublin

St. Andrew's NS, Lucan, Co Dublin

Clonburris Post-Primary School, Clonburris, Lucan, Co. Dublin

Mary Mother of Hope NS, Castaheaney

Esker Educate Together NS, Lucan

Newpark Comprehensive, Newtownpark Avenue, Blackrock

St Brigid's Convent NS & Scoil Mhuire NS, Haddington Road, Dublin 4

Galway

Scoil Bhride, Menlo, Castlegar, Galway

Coláiste na Coiribe, Bóthar Thuama, Co na Gaillimhe

Kildare

St David's NS, Piper's Hill, Naas, Co Kildare

Kildare Educate Together NS, Kildare Town

Kilkenny

Bunscoil McAuley Rice, West St, Callan, Co Kilkenny

Laois

Portlaoise ETNS, Gaelscoil Phortlaoise, Maryborough N.S. Portlaoise, Co Laois

Portlaoise amalgamation, (St Paul's, Sacred Heart & Scoil Mhuire)Portlaoise Rd, Portlaoise, Co Laois

Limerick

Gaelscoil Chaladh an Treoigh, Chaladh an Treoigh, Luimneach

Coláiste Chiarain, Croom, Co Limerick

Louth

New 1,000 pupil school, Dundalk, Louth

St Joseph's NS , Avenue Road, Dundalk, Co Louth

New Post Primary School, Ballymakenny Rd. Drogheda

Meath

St Stephen's NS, c/o St Martha's College, Johnstown, Co Meath

New 1,000 pupil School, Ashbourne, Meath

Gaelscoil Na Mí, c/o Donaghmore Ashbourne GAA,  Ashbourne

New 1,000 pupil PP Navan, Co Meath (Phase 1 - Rapid for 350 students)

Monaghan

Monaghan Model School, Monaghan, Co Monaghan

Offaly

Scoil Bride, Carrick Rd, Edenderry, Co Offaly

Gaelscoil Eadan Doire, Club Sacair Bhaile Éadain Doire, Éadan Doire, Co Uíbh Fháilí

Westmeath

St Etchen's N.S., Kinnegad, Co Westmeath

Wexford

Gaelscoil Inis Corthaidh, Bothar Ros Mhic Thriuin, Inis Corthaidh, Co Loch Garman

Gaelscoil Moshíólóg, An Chraobhach, Bothar Charn an Bhua, Guaire, Co Loch Garman

Wicklow

 Gaelscoil an tInbhir Mhoir, Fernbank Park, Cemetary Rd, An tInbhear Mhoir, Co Chill Mhantain

Greystones ETNS, Blacklion, Greystones, Co Wicklow

Gaelscoil na gCloch Liath, Blacklion, Greystones, Co Wicklow

New 750 pupil School, Greystones, Wicklow

Arklow Community College, Coolgreaney Rd, Arklow, Co Wicklow



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