Projects in Cavan and Monaghan invited to apply for Rural Development funding
New round of funding to assist economic recovery in Monaghan and Cavan - Humphreys
The latest round of investment under the Rural Regeneration and Development Fund can support economic recovery in rural areas in Monaghan and Cavan in the context of the challenges posed by COVID-19.
That's the view of Heather Humphreys, Minister for Business, Enterprise and Innovation, who is strongly encouraging local groups to apply.
"Project proposals should seek to make a tangible and sustainable contribution to economic recovery, the continued development of rural towns, villages and their communities here in Monaghan and Cavan, and help support the transition to a low carbon economy.
“Through the Fund, we want to support large-scale, ambitious projects, which deliver on these objectives. For this reason, we’re looking for applications with a minimum funding request of €500,000."
Under the rules of the scheme applications must be led by a State-funded body - local authorities, local development companies, State agencies, commercial State bodies and others - but collaboration with groups on the ground is strongly encouraged.
The closing date for proposals is 12 noon, on Tuesday, December 1, 2020.
Minister Humphreys said that, to date, the scheme has already been of real benefit to Cavan and Monaghan.
"I hope to see plenty more applications coming through from the local area, and I am also really pleased to say that the new Programme for Government commits to continuing the fund.”
Minister Humphreys comments come as Minister for Rural and Community Development, Michael Ring, today opened applications for the €1 billion Rural Regeneration and Development Fund 2020.
The Fund is part of the Department of Rural and Community Development’s Rural Development Investment Programme which is funded under Project Ireland 2040.
It 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: "The impact of the funding allocated under previous call to the Fund has been transformative for rural communities... 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.”
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 added: “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.”
Full details of the Rural Regeneration and Development Fund are available on the Department of Rural and Community Development website at https://www.gov.ie/en/policy-information/c77144-rural-regeneration-and-development-fund/