EU shift in lending policy allows McCreevy to fund vital projects

FINANCE Minister Charlie McCreevy will be able to increase funding for major infrastructural projects after the EU yesterday changed rules governing borrowing.

The change, which follows intensive lobbying by the Government, was welcomed by the Construction Industry Federation which said it should allow the Government to really drive forward the National Development Plan.

Transport Minister Seamus Brennan also welcomed the decision, saying he believes it will free up more funding for the transport sector.