Oireachtas Joint and Select Committees
Wednesday, 7 June 2017
Seanad Committee on the Withdrawal of the United Kingdom from the European Union
Engagement with Local Authorities
10:00 am
Mr. Dominic Molloy:
I am from the Mid Ulster District Council. I will be brief and will make one point. We talked about various funding strands, including INTERREG and ERASMUS. It is important that they are kept going. One funding strand mentioned was access to the European Investment Bank. It provided over €1,000 million into the island of Ireland in 2013. A total of €350 million came to the North for projects on infrastructure and the relocation of the University of Ulster or Ulster University as it is called now. For the Border region and for the North as a whole, access to the European Investment Bank is very important for the various infrastructure projects in sectors such as telecommunications, broadband, roads, education and so on. Previously, the Department of Finance in Northern Ireland had put aside £40 million as leverage to access European funding from the European Investment Bank. That had to be shelved because of the Brexit decision. We would like to see some kind of arrangement to allow that to continue to be accessed.
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