Bank of Ireland has set up a £10 million (€7.9 million) informational technology finance fund to help businesses upgrade or replace their IT systems in the run-up to 2000.

Staff training and consultancy costs will also be covered by the fund as companies prepare to meet the technology-related requirements of the new millennium. The fund can be accessed through a number of borrowing options including commercial loans, lease and hire purchase arrangements. Funding will be provided at existing market rates with a minimum borrowing requirement of £3,000.