Brendan Smith (Cavan-Monaghan, Fianna Fail)
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66. To ask the Minister for Public Expenditure and Reform if he will provide an update on the implementation of Chapter 17 of the National Development Plan 2021-2030; and if he will make a statement on the matter. [10558/23]

Paschal Donohoe (Dublin Central, Fine Gael)
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The National Development Plan 2021 – 2030 (NDP) published in October 2021 provides a detailed and positive vision for Ireland over the next 10 years, and delivers total public investment of €165 billion over the period 2021-2030. In 2023, over €12 billion will be made available from the Exchequer for investment in public capital projects, which will provide more schools, homes, hospitals and other pieces of vital infrastructure.

The Shared Island Fund aims to create a more prosperous, connected and sustainable island. It has a funding envelope of €500 million between 2021 and 2025. This fund provides significant new, multi-annual capital funding for investment on a strategic basis in collaborative North/South projects that will support the commitments and objectives of the Good Friday Agreement.

The Shared Island Fund provides for the establishment of a new North South Research programme. €20 million of the €40m is from the Shared Island to support strengthening of links between higher education institutions, researchers and research communities on the island. This will create centres for Transformative Research and Collaboration, to support enterprise growth and to attract investment.

This funding will also support investments in North/South projects such as the Ulster Canal restoration and Narrow Water Bridge projects, supporting the delivery of sustainable tourism and recreation amenities for the border region. The phase 2 of the Ulster Canal Restoration is being delivered through funding commitments of €6 million from the Shared Island Fund, a further €6 million from the Rural Regeneration Development Fund and €8 million from the Department of Housing, Local Government and Heritage, bringing the total allocation for this phase of the project to €20 million.

In addition to this, the new North South Interconnector will allow for the flow of 900 MW electricity between Ireland and Northern Ireland, which will enhance the operation of the all-island single electricity market, increase security of supply, and facilitate higher levels of renewable electricity. Currently, the Business case is at a final review stage, with construction expected to start in 2023.