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          Bank Press Release No. 74/4                      Subject:      $25 million Bank loan
          January 17, 1974                                               to Ireland for education

                       A World Bank loan of $25 milUon, announced today, will assist

          Ireland in improving and expanding its education system.              The Bank is

          helping to finance a comprehensive educati,011° project, costing $62. 8 million,

          that will provide Ireland with almost 20,000 additional places for students

          in various schools and training centers.

                       The project consists of constructing and equipping 14 new compre-

          hensive schools, five new industrial training centers, a new technical teacher




•
          training institute, new facilities for the Faculty of Agriculture at the

          University College, Dublin, and a national institute for higher education to

          serve the Shannon-Limerick axis.     The project also will assist in the expan-

          sion of seven existing technical colleges in different regions of Ireland.

                       The project will assist the government in broadening the educational

          reforms consistent with the country's socio-economic development strategy.

          It will enable the government to consolidate further its program for reform-

          1n·g   secondary education along more practical lines.        It will help extend the

          reforms into technical teacher training and higher agricultural and technical

          education and increase emphasis on the training of skilled craftsmen for

          industry.,

                       The project will help meet the expected demand for skilled workers

          and technicians at all levels.     It will also strengthen and expand adult




    •     training programs and post....;secon~ary agricultural and technical education •


                                                                                              /more

          Note:    Money figures are expressed in US dollar equivalents.
Bank P.R. No. 74/4 - Ireland - education




second for education.
                             - 2 -

       The loan is the Bank's seventh operation in Ireland, and the

                        It brings total Bank lending to $122.5 million
                                                                           •
since lending in Ireland began in 1969.      The Bank financed the first
education project in 1971.

       The loan is being made to Ireland for a term of 20 years, includ-

ing five years of grace, with interest at 7-1/4% a year.


                                     - 0 -




                                                                           •



                                                                           •
•    PROJECT:   Second Education
                                          TECiiNICAL DATA



     COUNTRY:   Ireland

    TOTAL COST:    $62.8 million

    BANK FINANCING:    $25 million, 20 years, including five· years of grace,
                       interest 7-1/4% per annum.

    OTHER FINANCING:      Governm.ent of Ireland

    IMPLEMENTING ORGANIZATION:      Ministry of Education, Dublin, Irel.md

    PROJECT DESCRIPTION:      Construction and equipping of 14 new comprehensive
                              secondary schools; expansion and equipping of seven
                              existing regional technical colleges; provision of
                              the central campus core of the main academic and
                              commwial facilities and equipment for the National
                              Institute of Higher Education (NIHE); providing com-
                              puter equipment for the third level technical inFtit-



•
                              utes in the project; provision of a new technical
                              teacher training institute on the NIHE campus; provid-
                              ing new facilities and equipment for the Faculty of
                              Agriculture of University College, Dublin at the main
                              campus at Belfield.

    PROCUREMENT:   Contracts for civil works, furniture and equipment will be
                   awarded on the basis of international competitive bidding.
                   Items will be grouped to the extent practic'able to fonn
                   sizable bid packages and to permit bulk procurement. Local
                   manufacturers of furni.ture and equipment will be allowe,d a
                   preferential margin of 15 percent of the C.I.F~ cost of
                   competing imports or the existing rate of duty, whichever
                   is lower.

    COMPLETION DATE:      December 1978


                                          - 0 -




•   Note:   Money figures are expressed in US dollar equivale~ts.