Rural Regeneration and Development Fund The Government has committed an additional €1bn for a new Rural Regeneration and Development Fund from 2019-27. Administered by the Department of Rural and Community Development, the fund supports rural renewal for suitable projects in towns and villages with a population of less than 10,000 and outlying areas. The fund is an opportunity to support the revitalisation of rural Ireland, make a significant and sustainable impact on rural communities, and to address de-population in small rural towns, villages and rural areas. It will be a key instrument to support the objectives of the NPF, in particular the National Strategic Outcome to achieve Strengthened Rural Economies and Communities. Climate Action Fund The Climate Action Fund, under the auspices of the Department of Communications, Climate Action and Environment, has at least €500m to 2027 to support initiatives that contribute to the achievement of Ireland’s climate and energy targets that leverage investment by public and private bodies. The fund will facilitate projects that contribute to other Government policy priorities, including support for innovation and capacity building to develop scalable and sustainable climate change solutions, and generating wider socio-economic benefits such as job creation, air quality improvements, reduction in fuel poverty, bio-diversity and community resilience and development. It also aims to leverage non-exchequer sourced investment. Disruptive Technologies Fund The Disruptive Technology Innovation Fund aims to support Ireland’s innovation ecosystem and to drive collaboration between public bodies, our research base and industry to achieve the National Strategic Outcomes. It is a competitive, challenge-based fund for the development, deployment and commercialisation of innovative technology solutions to global challenges across a broad range of areas, including healthcare, services, energy, and food production. Implemented through the Department of Business Enterprise and Innovation, the fund has €500m over 10 years. The fund will invest in collaborative partnerships involving enterprises and research partners with SME participation. Investing in our Culture, Language and Heritage 2018 – 27 Investing in our culture, language and heritage, the Department of Culture, Heritage and the Gaeltacht’s sectoral plan under Project Ireland 2040, sets out the overarching vision for a vibrant heritage and culture sector, as well as concrete investments to preserve and promote the national language and to protect natural heritage and biodiversity. The Government has allocated almost €1.2bn to supporting Ireland’s culture, language and heritage through this 10-year strategy that recognises the essential role of the RSES in directing and informing future investment across the Region.
Other Investment Mechanisms Outside of the funding mechanisms under Project Ireland 2040, the following organisations provide potential funding opportunities for delivery of the RSES: Ireland Strategic Investment Fund The Ireland Strategic Investment Fund, managed and controlled by the National Treasury Management Agency, is an €8.9bn sovereign development fund with a statutory mandate to invest on a commercial basis in a manner designed to support economic activity and employment in Ireland. The fund has a long investment time horizon and seeks investment where it can make a difference - where it can enable commercial investment with positive economic impact and make it an attractive “investor of choice” for the company, project sponsors and advisors. The fund is uniquely positioned to connect and drive innovation across multiple industry players developing and delivering innovative opportunities that might otherwise go unrealised. European Funding Programmes The European Green Deal is a new growth strategy that aims to transform the EU into a fair and prosperous society,withamodern, resource-efficientandcompetitive economywhere there are no net emissions of greenhouse gases by 2050 and where economic growth is decoupled from resource use. The aims of the Green Deal are: for Europe to become climate-neutral by 2050; to protect human life, animals and plants by cutting pollution; to help companies become world leaders in clean products and technologies; and to help ensure a just and inclusive transition. By ensuring good policy alignment, the RSES can drive investment that targets identified priorities at European, national, regional and local scale and assist local authorities in identifying European partnership opportunities and leveraging funding from EU Regional Programmes. The RSES is also aligned to the five policy high level investment priorities of the EU’s Regional Development and Cohesion Policy which will drive EU investment for the 2020-27 period, namely: 1. A smarter Europe: innovative and smart economic transformation; 2. A greener, low-carbon Europe; 3. A more connected Europe: mobility and regional ICT connectivity; 4. A more social Europe: implementing the European Pillar of Social Rights; 5. A Europe closer to citizens: sustainable and integrated development of urban, rural and coastal areas through local initiatives. European Investment Bank and Council of Europe Development Bank The European Investment Bank, the EU’s bank representing the interests of Member States, works closely with other EU institutions to implement policy. It provides finance and expertise for sustainable investment projects that contribute to EU policy objectives supporting projects that make a significant contribution to growth and employment in Europe.
Southern Regional Assembly | RSES
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