The European Union is to contribute €134 million to a special €180 million co-operation fund between the Republic and Northern Ireland, the EU Commissioner responsible for regional policy, Mr Michel Barnier, has announced.
The money, which is to be distributed through the Interreg fund, is specifically aimed at easing economic and social disadvantages of the Border region, which the EU notes has suffered from the 30-year Northern conflict.
The Interreg fund aids cross-border, and inter-regional co-operation and joint projects to improve the economy, infrastructure, employment and the environment, across European frontiers.
The funding amounts to about €134.4 million and will attract about €44.8 million of national and regional co-financing, creating total resources of €179.2 million.
According to Mr Barnier, the fund, along with the second Programme for Peace and Reconciliation in Ireland, contributes substantially to the reconstruction of local economies and to mutual understanding.
"I am convinced that the programme will create added value in terms of the economic, social and cultural integration of the region and its citizens," he said.
The programme area covers 1.1 million people, of whom 407,000 live in the South and 680,000 in the North. While the Programme for Peace and Reconciliation addresses social exclusion and deprivation, the Interreg programme aims to revitalise the regional economy.
Both programmes support the reconstruction of infrastructure, better living conditions, opportunities for employment and education and enhanced co-operation and understanding.
The fund will be administered through the special EU Programmes Body, European Union House, in Co Monaghan.
