The Minister for Rural and Community Development Michael Ring has announced the third call for proposals under the Rural Regeneration and Development Fund.
The fund is part of the Department of Rural and Community Development’s Rural Development Investment Programme which is funded under Project Ireland 2040.
According to Minister Ring, the fund is providing €1 billion in investment over 10 years to support the regeneration and development of rural towns, villages and outlying areas.
Initial funding of €315 million was allocated on a phased basis over the period 2019 to 2022.
Announcing the third call under the fund, Minister Ring said: “I am pleased to announce the launch of the third call for proposals under the Rural Regeneration and Development Fund.
‘Transformative’
“The impact of the funding allocated under the previous call to the fund has been transformative for rural communities. Since the conclusion of the first call in late 2018, this fund has provided €148 million in support for over 100 projects, located all across the country, worth a combined total of €212 million.
The funding of these projects was very well timed, as they are right now delivering an immediate and much-needed economic stimulus in rural Ireland.
“The assistance provided by this fund has meant that businesses and communities have benefitted from the activity and jobs provided in delivering these projects, at precisely the time they have been most needed,” he said.
This call under the fund is for Category 1 applications, which relate to capital projects that have planning in place and are ready to commence at the date of application.
It is expected that a funding announcement relating to the second call for Category 2 applications – for projects which require assistance for project development work in order to reach full delivery readiness – will be made shortly.
The minister concluded, saying:
The level of investment provided by the fund is more important than ever to address the challenges arising from the Covid-19 crisis and to drive the economic recovery and sustainable development of rural areas.
“The focus of this third call will be to support large-scale strategic projects that will significantly assist our rural towns and villages to bounce back from the crisis in the months ahead.”