VEC to be quizzed on €430k loan

County Cork VEC secured more than €430,000 in unauthorised borrowings from Mallow Credit Union and signed up to a long lease with no permission.

The Department of Education wants answers from CCVEC on its interests in the Youthreach buildings and childcare centre = at Ballyellis[/url], Mallow, after it gave conflicting accounts of the arrangements underpinning the deal and misled the department over the lease.

It supplied different information to Pobal, to secure a €1m capital grant for the childcare centre, than it has given the department.