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Irish PM welcomes EU investment package for regional development

Xinhua, May 29, 2015 Adjust font size:

Irish Prime Minister Enda Kenny on Thursday welcomed the launch of a 320-million-euro (about 349 million U.S. dollars) investment package for the country's border, midland and western region.

The massive investment is backed by the European Regional Development Fund (ERDF). The ERDF is a fund allocated by the European Union (EU).

"Today's launch of the 320-million-euro investment package for the border, midland and western region represents a key milestone on our path to secure recovery for all of Ireland," Kenny said at Ballaghaderreen, a town in west Ireland's County Roscommon.

"This fund will help support small and medium size businesses to grow and create valuable jobs across the region," he said.

In 2013, the Irish government secured 1.2 billion euros of EU's Cohesion Policy funding for the period 2014-2020.

Cohesion Policy is the policy behind the hundreds of thousands of projects all over Europe that receive funding from the ERDF and other EU funds.

This funding will be delivered through the two ERDF regional programs, as well as a national program under the European Social Fund (ESF) and a number of European Territorial Cooperation Programs.

The ERDF program for the border, midland and western region will have a total value of 320 million euros, including ERDF funding of 160 million euros. (1 euro = 1.09 U.S. dollars) Endit