O’Donovan welcomes Government detail on €4 billion investment fund
Added May 30th, 2018
Limerick TD and Minister of State Patrick O’Donovan has welcomed details from Government on how it is proposed to spend €4billion under funding announced as part of the National Development Plan, Project Ireland 2040. The funds which cover Rural Development, Urban Regeneration, Climate Action and Innovation will be allocated to projects that can show a positive impact in communities across the country under a number of different assessments.
“These funds were announced as part of the launch of Project Ireland 2040 and I am particularly happy that the Rural Development Fund, which is important for Limerick, will be administered by Minister Michael Ring and will be aimed at ensuring that rural communities are able to access increased levels of funding over a ten year period. This is aimed at improving the quality of life for those that live in our rural areas and also to make them attractive places for people to invest in and create jobs in. I believe that Minister Ring will invite applications to be submitted to his Department shortly, and having worked very closely with him over the last seven years in my work as a TD for County Limerick I know he is committed to ensuring the greatest spread possible of this funding. I have already met the Minister in his Department in Dublin to discuss this fund and made a number of suggestions as to how the funding can be distributed and I am delighted he has taken my points into account.”
Patrick O’Donovan said that the recent experience that Limerick City and Council have gained in working with institutions like the European Investment Bank and the Council of Europe Development bank will be invaluable in accessing the funds being made available by the Government under the Urban Regeneration and Rural Development headings. “I met with both banks recently and I know that given the work that the Council have already underway that they are best placed to drive the applications to secure the greatest amount of money from these funds for Limerick.”
“When project Ireland 2040 was being developed I was very anxious as a rural TD to ensure that there was a fair balance of funding and attention given by Government to rural areas. I am glad that that has been done by this Fine Gael-led Government. The projects that have already been announced for Limerick under the plan together with these details prove that Limerick is and will continue to do very well from Government investment funds. If we in Limerick are to lead the development of the wider Mid-West region, which has to be our ambition, then we must be to the fore in the region in applying for these funds from Government.”
Patrick O’Donovan committed himself as Limerick’s Minister to working with colleagues in Government to drive projects for the County. Over the last few years I have been able to secure the advancement of a number of projects for Limerick and under this latest fund that is what I want to continue doing.