THE PRINCIPAL of the State's first international school has expressed confidence in its future, despite its links with the troubled German bank Depfa.
The board of the International School of Dublin, based in Pembroke Road, will meet parents today amid fears the school could become another victim of the global financial turbulence.
The primary school charges its 25 pupils €8,200 in fees a year but it is largely dependent on funding from Depfa, which has offices at the International Financial Services Centre.
The school teaches the standard international curriculum, the international baccalaureate, taught across Europe. It is not eligible for exchequer funding because it does not teach the Irish curriculum.
Karin Bacon, the head of the school, acknowledged yesterday that German support for the school was crucial.
However, she said she had no reason to believe there was any immediate threat to its future. She said the school's board would be looking for other sponsors. Michael Deeny, the managing director of Depfa ACS Bank, is the chairman of the board.
The school, which opened last September, has been widely praised by educationalists. Until its opening, Dublin was the only EU capital without an international school. The parent body of the school includes executives working in the IFSC, diplomatic staff and those whose children have been educated abroad.
Enrolment has been lower than expected largely because of the credit crunch.
Depfa established the school in Dublin after it found difficulty in attracting executives to a city without an international school.
According to some reports, Depfa has invested close to €1 million in underwriting the school, but other financial support would be needed in the coming years.
Citigroup also provides financial support, according to reports.
The 4,000sq ft school is located on the site of the former Pembroke School, founded in 1929 by Kathleen Meredith.
