As many as 200 jobs are expected to be created in Galway during the construction of a 450-pupil primary school and a 650-pupil post-primary school on a shared campus in Doughiska.
The schools are two of eight capital projects nationally that will benefit from a €50 million loan from the EIB, which will allow them to be delivered under the public private partnership model.
Planning for these projects was finalised earlier this year and with the finance secured, construction can begin. The total cost of the eight new schools is expected to reach €100 million. The PPP projects will be financed through funding raised from the EIB, Bank of Ireland, and the National Pensions Reserve Fund.
Galway West Fine Gael TD Brian Walsh said the provision of finance from the EIB was a “strong signal of renewed confidence among international investors” in the State.
“There has been rapid population growth east of the city in recent years,” he said, “and the announcement that these schools can finally progress to construction will make a huge difference for families in the area.”