Chambers Ireland Welcomes Project Ireland 2040 Funds

Chambers Ireland has welcomed the launch of €4 billion in funds for rural development, urban regeneration, climate action and innovation. The funding has been announced as part of Project Ireland 2040, the Government’s overarching policy initiative to provide balanced regional development.

According to the Government announcement, €2 billion of the fund will go towards urban regeneration in five cities, including Dublin, Cork, Limerick, Galway and Waterford, and 54 other large urban centres. Another €1 billion will go towards developing rural areas and creating jobs in towns with a population of less than 10,000 people. €500 million will go towards initiatives to help Ireland achieve its climate and energy targets, and a further €500 million will be invested in the development of disruptive innovative technologies, such as artificial intelligence and robotics.

Responding to the announcement, Chambers Ireland Chief Executive, Ian Talbot, commented: “The funds are reflective of the areas that Ireland needs to strategically focus on in order to ensure that improved quality of life, balanced growth and environmental goals are met well into the future. It is imperative that we invest limited state resources in the very best practices that will tackle climate change and imbalanced development in Ireland, while we also seek to improve our uptake of new technologies and maximise the benefits these can have for our society and economy.

“The competitive aspect of the funds is to be welcomed and should encourage actors from across our society and economy to proactively engage with one another and will hopefully also attract innovative ideas and initiatives from a diverse range of actors.”