Construction BUSINESS

EIB Loan Will Trigger €180 Million Investment Programme in Fingal

 Breaking News
  • Government Launches €1.25 Billion Land Development Agency to Build 150,000 New Homes The Government has launched the Land Development Agency to build 150,000 new homes over the next 20 years, the next step of Project Ireland 2040. The new Agency has an immediate focus on managing the State’s own lands to develop new homes, and regenerate under-utilised sites. In the longer-term it will assemble strategic landbanks from [...]...
  • €8 Million in Government Funding Awarded by SEAI to Innovative Energy Research Projects The Government has announced €8 million in funding to support 45 innovative energy projects in companies and research institutions across Ireland. The Sustainable Energy Authority of Ireland (SEAI) is responsible for awarding the funding to the 45 projects which aim to develop solutions that will help our homes, businesses and communities deliver a cleaner energy future. [...]...
  • €100 Million Worth of Minor Building Works Tendered For Public Sector New frameworks are being launched to streamline the tendering process for €100 million in contracts for minor building works across the entire public service. The contracts will be tendered by the Local Government Operational Procurement Centre for the provision of Minor Building Works to public service bodies including 31 local authorities, the HSE, the OPW, the [...]...
  • Major Milestone For €233 Million Center Parcs Forest Resort With one year to opening, the €233 million Center Parcs forest resort in County Longford has reached an important milestone as Sisk workers recently welcomed the record sized 53-metre long, 22-tonne, glulam beams that will form the structure of the impressive Subtropical Swimming Paradise. A jewel in the crown of the resort, the Subtropical Swimming [...]...
  • Resilient Performance by Breedon Group Breedon Group, a leading construction materials group in the UK and Ireland, has reported revenue of £378.4 million for the six months to 30 June 2018, up from £326.3 million in the corresponding period of 2017. Underlying earnings before interest and tax (EBIT) increased by 17% to £42.0 million. However, excluding acquisitions, both revenue and [...]...

EIB Loan Will Trigger €180 Million Investment Programme in Fingal

EIB Loan Will Trigger €180 Million Investment Programme in Fingal
December 08
11:55 2017

Fingal County Council has signed a €70 million Framework Loan Agreement with the European Investment Bank (EIB) which will trigger a €180 million investment in strategic infrastructure projects within the county’s Capital Development Plan. This represents the first EIB support for county-wide investment in partnership with an Irish local authority for more than a decade and will enable a step-change in economic growth prospects for Fingal which has Ireland’s fastest growing and youngest population.

The Framework Loan Agreement with EIB will give Fingal County Council the capacity to borrow €70 million over the next five years and this will be invested in capital projects in areas such as:

  • Transport, connectivity and housing land activation
  • Enterprise development and job creation including development of new industrial sites
  • Tourism promotion and visitor attractions including investment in historic properties and cycleways
  • Social and cultural facilities including libraries and facilities for the arts
  • Environmental investment.

EIB President Werner Hoyer and Vice President Andrew McDowell recently joined Mayor of Fingal Cllr Mary McCamley and Fingal County Council Chief Executive Paul Reid at a special ceremony in County Hall, Swords, to sign the Framework Loan Agreement.

Mr Reid said: “The outlook for the Fingal economy is very positive at present and we have major plans for development across each of the key sectors. This funding will allow us to fast-track the delivery of our capital programme and safeguard the next phase of growth.”

The Mayor of Fingal, Cllr Mary McCamley, welcomed the successful completion of negotiations between the Council and the EIB and said it was a great deal for the county. “Myself and my fellow councillors gave approval to enter into this €70 million framework loan agreement at our November meeting and this investment means that we can now strategically develop infrastructure so Fingal can grow in a sustainable way. This will help us to improve Fingal as a place to live, work, visit and invest,” said the Mayor.

Andrew McDowell, EIB Vice President, said: “The EIB has been impressed by the broad scope and diverse impact of the proposals that are already been seen as a benchmark in other European cities. I look forward to seeing impressive plans turn to reality in the years ahead.”

The EIB is the European Union’s long-term lending institution owned directly by the EU member states and the world’s largest international public bank. The EIB has provided more than €95 billion for urban investment in the last five years. This includes providing crucial support for new urban development, sustainable transport and social housing as well as improving water, energy, health and education infrastructure  in cities across Europe and around the world.

CAPTION:

Pictured from Left: Andrew McDowell, Vice-President, European Investment Bank; Werner Hoyer, President, European Investment Bank; Cllr Mary McCamley, Mayor of Fingal; and Paul Reid, Chief Executive, Fingal County Council.

About Author

admin

admin

Related Articles


Constrcution Summit

PROMO – Construction Summit 2016 – Sustaining the Momentum

Lean Construction Ireland – Enhancing Ireland’s Competitive Advantage

The Magazine – Construction Business

The Magazine – Construction Summit 2016

The Magazine – Construction Summit

Upcoming Events

  • September 18, 2018For Arch 2018
  • September 27, 2018Marmomacc Verona
  • September 27, 2018Architect@work Paris
  • October 4, 2018Architect@work Nantes
AEC v1.0.4

New Subscriber





Subscribe Here



Advertisements