€130m in funding to be sought from Euro banks by Cork County Council

Cork County Council is planning to borrow €130m from two European banks for infrastructure projects – which will represent one of the largest loan ever sought outside the State by a local authority.

The council has been in discussion with officials from the European Investment Bank (EIB) and the Council of Europe Bank (CEB) since the mid-2018 about borrowing the money, which will go towards a total of €244m of projects it wants to progress within the next 10 years.