The Irish Government has been called on to examine the potential of European Investment Bank (EIB) funding to fulfill its A5 funding commitment.
The call comes from West Tyrone Sinn Fein MP Pat Doherty who said if the Dublin government had the “political will” it should be examining the potential of EIB funding stream to underpin its “avowed commitment” to the A5 project.
Mr Doherty said: “Prior to the recent elections I, along with Martina Anderson MEP, met with representatives of the Strabane Chamber of Commerce to discuss potential EU funding instruments that could assist in supporting key infrastructure projects and in particular the A5 to engender economic regeneration locally and in the wider north west region
“As part of the follow-up Martina held three engagements with Jonathan Taylor, Vice-President of the European Investment Bank (EIB) which is the EU’s long-term lending institute-which has a lending volume of £71.7 billion and which, during 2013 alone, provided long-term/low cost loans to support key infrastructure and private sector investments accross the 26 Counties. Crucially, among the projects the EIB has agreed to finance is the N17 between Sligo and Galway.
West Tyrone MP Pat Doherty.
“Since the Irish government reneged on its commitment to help co-fund the A5, the best we have got from the administration has been a general commitment that it will re-assess it’s finances in 2015.
“However, I believe that if the Irish Government has the political will it should be examining the potential of this EIB funding stream to underpin its avowed commitment to the A5 project.
“Within the Assembly Executive, Sinn Féin has stood our ground to ensure that the money for the A5 has been ring-fenced which will enable the development of the Derry to Strabane and Omagh to Ballygawley sections.
“However, given the strategic importance of the overall A5 project for the economic regeneration of this part of Ireland, the Irish government should be in a position to signal it’s intent to fund the remaining section from Strabane to Omagh either directly or through seeking the necessary investment through the EIB.”
Mr Doherty revealed he has written to the Minister for Public Expenditure Brendan Howlin to request a meeting to press for the delivery of his government’s A5 commitment.
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