David Cullinane (Waterford, Sinn Fein)
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357. To ask the Minister for Education and Skills the definition of financial close stage for new school builds; and if he will make a statement on the matter. [24781/18]

Richard Bruton (Dublin Bay North, Fine Gael)
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The term “financial close” in relation to new school builds is a term that is normally associated with Public Private Partnership projects. Financial close usually occurs when all the project and financing agreements have been signed and all the required conditions contained in them have been met. It enables funds (e.g. loans, equity, grants) to start flowing so that project implementation can actually start.