Éamon Ó Cuív (Galway West, Fianna Fail)
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42. To ask the Minister for Rural and Community Development when the details of the rural development fund will be announced; when schemes will open for applications under the programme; the financial provision in the three year expenditure envelopes for the programme for 2018, 2019 and 2020, respectively; and if he will make a statement on the matter. [25023/18]

Michael Ring (Mayo, Fine Gael)
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Under Project Ireland 2040, the Government has committed to providing €1 billion for a new Rural Regeneration and Development Fund over the period 2019-2027.

The Fund will be key to achieving strengthened rural economies and communities; one of the national strategic outcomes under the National Planning Framework.

This fund which will be overseen by my Department will have a significant positive impact on rural communities and their sustainability.

The fund will enable collaboration between Departments, agencies, Local Authorities and public bodies to transform rural towns and villages and their outlying areas.

Funding of €315 million has been provided for the period 2019 to 2022, which will allow both further activity under existing initiatives as well as the introduction of new investment initiatives under the Fund to be supported during this period. The allocation is as follows :- €55m (2019), €80m (2020), €80m (2021) and €100m (2022).

Allocations from the Fund will be made on a competitive bid based approach and the details of the process are presently being finalised by my Department.

I am currently consulting with my colleagues in Government on the development of this Fund and I will make further announcements shortly.