Pobal, which administers about €300 million ($400 million) a year in funding, is negotiating with the Department of Health and Children on a potential 1:1 match of the grant, which would make a total of nearly €30 million ($40 million) available to fund an area-based initiative comprising a number of small projects related to education, child care, and poverty among children age 6 and younger.
Groups operating in various sectors within the same geographic area will be encouraged to form consortiums to apply for funding. According to the Times, Atlantic wants the funds to be used to keep children at risk of poverty within the mainstream education and childcare systems.
Atlantic previously has worked with Pobal on childcare issues and funded the National Early Years Access initiative, a three-year program designed to improve facilities in disadvantaged areas. Established by Duty Free Shoppers co-founder Chuck F. Feeney, the foundation has announced plans to end its grantmaking by 2016 and close its doors by 2020.
An official announcement about the project could be made early next month.