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Tuesday, 10th July 2018

New €1bn Rural Regeneration and Development fund

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Deputy Fergus O'Dowd.

O'Dowd urges local Councils and community organisations to apply

Drogheda TD Fergus O'Dowd is urging both Louth and Meath County Councils as well as community organisations here make submissions for funding under the Government’s new Rural Regeneration and Development Fund which will be open for applications for over two months.

O’Dowd has called for a collective approach in seeking support from the fund which is under the remit of Minister for Rural and Community Development, Michael Ring.

The fund will be open to local authorities, local development companies, State agencies, other Government departments, philanthropic funders, the private sector and communities.  The lead partner must be a State-funded body.  

The closing date for the receipt of proposals is 27th September 2018 and it is anticipated that successful projects will be announced in late October/early November. Full details are available at www.drcd.gov.ie.

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O'Dowd said: “The new Rural Regeneration and Development Fund will invest €1 billion of exchequer funding over the next 10 years. The fund provides an unprecedented opportunity for us to make a significant impact which will transform our rural communities for the better.

“The overarching aim of the new funding is to have an impact on sustainable economic and social development in rural areas.

“It is essential that Louth and Meath County Councils and community organisations here make submissions for funding. This will be a competitive process open to public bodies and locally based organisations.

“The type of projects it will support will include: addressing infrastructural deficits in towns and villages, encouraging enterprise, and enhancing heritage and community assets in rural areas.

“The Fund will target towns with a population of less than 10,000 people, as well as villages and outlying rural areas.

“In general, the fund will provide up to 75% of the total value of a project.  A maximum of 80% of funding will be considered where community contributions form a significant element of the match-funding,” he added.

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