I was pleased to announce last week new Government funding commitments of over €800 million for projects which will have a major impact across the island. This is the largest ever package of Government funding for cross-border investments, and is in addition to the near €250 million already allocated from the Shared Island Fund for more than 15 major projects and programmes since 2020.
The Government committed €600 million to the long-awaited upgrading of the A5 North-West transport corridor, and is advancing work on linked road projects including the N2 Clontibret and Donegal TEN-T upgrades in 2024.
The Government also agreed to channel funding through the Shared Island Fund to a host of other projects, including:
• to build the landmark Narrow Water Bridge connecting the Cooley Peninsula in Louth to the Mourne Mountains in Down, and complete the scenic Carlingford Greenway, boosting tourism and transport links in the east border region;
• €50 million to a redeveloped Casement Park in Belfast, creating a high-quality sports stadium which can also host matches as part of the Euro 2028 tournament;
• €12.5 million for a new hourly-frequency rail service between Belfast and Dublin;
• Investing €10 million in a renewed visitor experience at the Battle of the Boyne site to reflect its unique historic significance to communities North and South;
• Working with the Astronomical Observatories of Ireland on how the heritage and tourism value of its three sites at Dunsink, Armagh, and Birr can be harnessed;
• Developing pilot cooperation schemes by enterprise agencies (up to €30 million) and on education (up to €24 million).
These investment priorities and commitments will be delivered in cooperation with the Northern Ireland Executive and UK Government partners in 2024 and subsequent years.
Government allocations from the Shared Island Fund are already moving forward on a range of projects and programmes that deliver on Shared Island commitments and objectives in the Programme for Government and the revised National Development Plan.
The Government’s Shared Island Fund was established in Budget 2021 and provides additional ring-fenced capital resourcing for delivery of all-island investment commitments and objectives set out in the Programme for Government and the revised National Development Plan 2021-30 (NDP). Funding will be disbursed to Departments and Agencies in line with the Programme for Government priorities and on the basis of collaborative North/South projects. As projects progress towards delivery, disbursement from the Fund will proceed in accordance with established Public Financial Management procedures.
When I established the Shared Island Initiative in 2020, I was clear that it needed to be a whole-of-Government priority. Every Department across Government will be supported in continuing to drive forward new and innovative Shared Island projects, including those set out in last week’s announcement.
