IFI invests €2.25bn in funding

SINCE its foundation in 1985 the International Fund for Ireland (IFI) has invested €2.25 billion helping disadvantaged areas in the border region and across Northern Ireland.

Last year it approved over €43 million for development and reconciliation projects for Northern Ireland and the border counties of the Republic of Ireland in 2003.

As a result total funding in current projects stands at €123m, IFI chairman, William T McCarter said yesterday.

Established in 1986 by the Irish and British governments the IFI promotes economic development and reconciliation between unionists and nationalists.

Resources are spent in Northern Ireland and the six border counties of Donegal, Leitrim, Sligo, Cavan, Monaghan and Louth.

Donors are the governments of the EU, the United States, Canada, Australia and New Zealand.

Contributions to the Fund in 2003 amounted to €35m from the respective governments.

Both the Minister for Communications, Marine and Natural Resources, Dermot Ahern and the British Ambassador, Stewart Eldon were presented with copies of the report.

Commenting on the Fund Minister Dermot Ahern said it was “pivotal” to the huge social and economic developments that have taken place in the northern half of Ireland in the last 18 years.