The European Investment Bank (EIB) has announced plans to provide a €100 million loan to the Department of Education and Skills' capital investment programme.

Minister for Education and Skills Ruairi Quinn has welcomed the announcement, explaining how the funding will help to ensure 275 school building projects will be carried out between now and 2016.

"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," Mr Quinn commented.

Some of the money will be used to construct and upgrade 35 primary and 12 second-level schools around the country as part of the Schools Capital Programme unveiled earlier this year.

President of the EIB Werner Hoyer said the funding will provide thousands of places in schools and will "directly benefit" children across Ireland.

Among the projects planned by Mr Quinn is the construction of eight new special schools and extensions for four current special schools.

Written by Donal Walsh

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