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Government Approves €70m for Shared Island Investments

Government have allocated €70.4m from the Shared Island Fund to deliver five new cross-border and all-island investments. These are:

• €5m for a Shared Island Local Authority Development Funding Scheme

• €3m for a Shared Island strand to the Community Climate Action Programme

• €15m for a Shared Island Electric Vehicle charging infrastructure scheme

• €7.4m for Shared Island Arts investment projects

• €40m contribution for delivery of Phase 3 of the Ulster Canal restoration

These projects will be taken forward by Ministers working through all-island partnerships. The Shared Island Fund was established by Government in Budget 2021, and provides ring-fenced capital resourcing for delivery of the all-island investment commitments and objectives set out in the Programme for Government and the revised National Development Plan 2021-30 (NDP).

Taoiseach Micheál Martin TD said, “the Shared Island initiative is gathering pace. Following on from the €50m allocation from the Shared Island Fund in 2021, Government has today agreed a record €70m in funding for Shared Island projects and investments. This announcement sets out an ambitious, cross-Government programme of work, which will bring communities, North and South, together to work on shared strategic priorities.”

“Through the Shared Island Fund we are providing enhanced resources so the long-standing commitment to the Ulster Canal restoration is delivered. We are also progressing new cross-border and all-island investments in community climate action, EV charging infrastructure, in the arts, and for new local authority investment projects.”

“Working through all-island partnerships, we will deliver tangible benefits and provide new opportunities for people from all communities and traditions on this island. The Government is deeply committed to this agenda to see us build, in practical and positive ways, a more connected, sustainable and prosperous island for all.”

Minister for Foreign Affairs Simon Coveney TD said, “the Shared Island initiative is an important cross-Government programme which is playing a key role in enhancing North-South cooperation. The funding agreed will further deepen the links and relationships across the island and sends out a positive message of what can be achieved when we work together for the benefit of people and communities, North and South.”

“In advancing the Shared Island initiative the Government wishes to work in close cooperation with the Northern Ireland Executive, and with the British Government. Work is also underway across all Government Departments to develop new Shared Island investment, policy and cooperation projects with further allocations from the Shared Island Fund being targeted before the end of this year.”

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