European Investment Bank to invest €100m in school buildings

The Head of the European Investment Bank is in Dublin today for talks with the Government on investment in projects.

The Coalition has already persuaded the E.I.B. to invest €100m in school building despite the fact Ireland does not have a triple A credit rating.

Up until last month the European Investment Bank would not lend money to Ireland because of Ireland's rating, but those rules were relaxed as part of the plan to create growth across the European Union.

The head of the EIB, Werner Hoyer will sign contracts with the Education Minister Ruairi Quinn to pump €100m into the school building programme.

Mr Hoyer will also meet with the jobs, Finance and Public Expenditure Ministers and the Taoiseach in a bid to get even more money for Ireland.

Other projects that could benefit from funds are community health centres and national primary roads in Wexford and Galway.