Irish American fund aims to raise $1m a month

As the economic crisis has intensified, the Irish American Fund has increased its efforts to support more than 300 initiatives across the island of Ireland.

The fund launched the Promising Ireland fund with an initial goal of raising $100m (€79.5m) at the start of the year, but such was the response that the fund has increased its target to $140m, according to the president and chief executive of American Ireland, Kieran McLoughlin.

“As of this [Friday] morning we’ve agreed a new goal for Dec 2013,” he said.