The fund aims to help rejuvenate Ireland's smaller towns and villages by supporting a variety of projects.
Taoiseach Leo Varadkar and the Minister for Rural and Community Development, Michael Ring announced the first projects to secure funding today, 23 November, at a special event in Sligo.
Approximately €24.4 million will be shared by 18 different projects, which include:
• Conversion of prominent heritage building in Kinsale, Co Cork into a local public library
• A new National Centre of Excellence for Surfing in Strandhill, Co Sligo
• Converting the Valentia Island Trans-Atlantic Cable Station in Co Kerry into a museum and business innovation hub
• Restoration of the 800 metre Borris Railway viaduct in Co Carlow - linking the town to local walkways
• Restoration of Swan Park in Buncrana, Donegal following its devastation by flooding last year.
The projects in this round focused on heritage and tourism, infrastructural improvement, economic development, and rural regeneration. More than 290
projects applied for this stage.
Funding of €1 billion will be allocated under the scheme over the next 10 years.
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Taoiseach Leo Varadkar said: "In May, I was joined by Ministerial colleagues to launch four game-changing funds under Project Ireland 2040, with a total investment of €4 billion. Together these funds represent a new and innovative approach to investment and capital spending in Ireland.
"These Funds are competitive and open to a wide variety of partners, so if you have an idea to improve your area, develop new technologies, encourage climate action, you have the opportunity to make a real difference.
"The €1 billion Rural Fund will enable towns, villages and outlying rural areas to grow sustainably. It's all about making Rural Ireland a more attractive place to stay, move into or run a business. Today, as we announce the first round of funding under the Rural Fund, I am struck by the dynamism of the ideas that were submitted. Projects involving heritage, regeneration and the public realm, greenways, telecommunications, tourism, environment, enterprise, and public transport. Some, however, stood out from the pack and they are the ones being awarded today. They are projects that have significant potential to improve rural Ireland and to do so quickly; these projects will hit the ground running and I look forward to seeing the results."
Minister Michael Ring added: "The Rural Regeneration and Development Fund will provide the impetus for the transformation of hundreds of rural towns and villages over the next ten years. By 2040, our population will have increased by one million. Half of that population growth will take place in rural Ireland. Rural Ireland is integral to the future development of our country and this Fund will facilitate rural growth and prosperity and will strengthen rural communities.
"I am delighted that my Department has received 290 submissions from across the country. The funding support announced today for different types of projects will be transformative for the communities concerned.
"I am looking forward to seeing the difference this funding will make on the ground throughout rural Ireland. I believe that this Fund will continue to achieve even more for rural renewal over its lifetime through a pipeline of ambitious projects. Today's announcement is just the start and I will make further announcements of successful projects early in 2019."
(CM)
