AIB today announced a special euro 50 million fund to help childcare service providers develop their business.
AIB business banking manager Mr Larry O'Connor outlined the rationale for AIB involvement in this area. "The demographic, social and economic changes in Ireland are increasing the demand for childcare services."
Speaking at the launch today, Tánaiste Ms Harney said: "The Government has identified childcare as a priority area and is committed to investing £344 million to increase the number of childcare places and to improve the quality of childcare throughout the country over the lifetime of the National Development Plan 2000-2006."
IBEC social policy director Ms Jackie Harrison said the fund is intended to meet the estimated 27 per cent rise in demand projected to 2011.
"Administrative and red tape on issues, such as planning approval, must not impede progress in delivering affordable childcare."