New investment fund to service sites for rural businesses

Updated strategy for rural Ireland to be launched, running until 2031, alongside action plan up to 2028

The plan is intended to support the economic, social, and environmental development of rural Ireland and is also expected to include measures aimed at tackling rural isolation. Stock picture

The Government is to establish a new investment fund to help service sites for rural businesses as part of a revised strategy for rural Ireland.

The updated policy, Our Rural Future, will run until 2031 and will be accompanied by an action plan covering the period to 2028.

Among the key measures is a new strategic rural investment fund, which will provide funds to develop sites and infrastructure for businesses in rural areas.

Funding for the initiative is expected to come from the existing €1bn Rural Regeneration and Development Fund, which is used to support projects in towns and villages across the country.

“It’s all about helping to create the environment in rural Ireland where jobs can be created,” said one Government source.

They compared the plan to the Housing Infrastructure Investment Fund, which is used to invest in infrastructure to unlock sites for housing delivery.

The plan is intended to support the economic, social, and environmental development of rural Ireland and is also expected to include measures aimed at tackling rural isolation.

It will outline progress made since the previous plan for rural Ireland, including improvements in digital connectivity, more supports for rural enterprises, and direct Government supports.

The updated plan contains 34 high-level commitments, while the new action plan includes 240 actions.

Rural affairs minister Dara Calleary is due to launch the strategy on Tuesday alongside enterprise minister Peter Burke and ministers of state Seán Canney and Jerry Buttimer.

• Tadgh McNally, Political Reporter