The Deputy will be aware that £250 million additional funding will be made available for capital projects over the next three years from the new scientific and technological education (investment) fund. It is anticipated that £100 million will be allocated to the fund in 1998, with the balance of £150 million spread over the following two years.
The fund will be directed at seven broad areas, but the bulk of the investment will occur at third level. A sum of £80 million has been set aside specifically for infrastructure developments particularly in the technology sector which includes the Waterford Institute of Technology.
Draft legislation to establish the fund was presented to the Seanad yesterday and it is hoped that the various elements and structures will be put in place by the beginning of 1998. Completion of this process will clear the way for decisions on the prioritising of projects for funding. In this context, the proposals from Waterford Institute of Technology will be considered along with the various proposals received from other third level institutions.
