200m investment in Irish forestry

200m investment in Irish forestry

The European Investment Bank is unveiling a €200m investment in Irish forestry today.

Just under 10% of Irish land is forest, one of the lowest ratios in the EU.

Sweden tops the European league with close on 70% of land under forest.

EU Agriculture Commissioner Phil Hogan says this investment package will bring many benefits to the environment and Irish economy: "Forestry plays a major role in protection of our biodiversity.

"It represents a key sector in what we are trying to do in transitioning from an economy to a low carbon and climate friendly economy.

"So continued investment in the sector, is a win win in so many different ways for our local commuities, of our environment and for our economy."

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