Doyle encourages local authorities across Ireland to investigate new funding from European Investment Bank
Ambitious new loan sources will enable local government reach targets on capital projects more efficiently said Fine Gael European Election candidate for Ireland South, Andrew Doyle.
“The European Investment Bank (EIB) invests in local government across European and has already started lending to Irish local authorities. Last year, it reached an agreement to lend Fingal County Council a €70 million framework facility loan, which is to be repaid over a 25-year term. It has also approved loans for Limerick City and Councils, as well as Cork County Council.
Each local authority around the country has experienced a huge growth in population over the past number of years, which has resulted in additional pressure on services.
“I would encourage each local authority to consider EIB funding sources for housing, including affordable rental and land activation projects, at appropriate sites and Strategic Development Zones.
“With the financial pressure that comes providing adequate services, Council officials should be looking at innovative funding sources such as this. These loans can also support capital expenditure projects, such as:
Transport and Connectivity
Enterprise and Economic Development
Tourism Culture Heritage
“The EIB’s mandate is multi-faceted. The scale of its balance sheet means it can offer competitive interest rates, which are supported by historically low interest rates in Europe currently. In addition, the EIB’s policy agenda supports job creation, environmental and community sustainability – it is not solely commercially driven.
“This funding stream enables local authorities to front load and deliver projects more promptly and also add new projects to the Capital Development Plan. Improved services will also assist in attracting more Foreign Direct Investment to this area.”
MEP candidate in the ‘Ireland South’ constituency for Fine Gael
Minister of State for Food, Forestry and Horticulture
Andrew Doyle is the Fine Gael MEP candidate for the Ireland South constituency in the upcoming European elections. He is currently the Minister of State at the Department of Agriculture, with responsibility for Food, Forestry and Horticulture.
His long political career has resulted in extensive experience and knowledge at a national, European and global level – across a variety of key topics such as agriculture, food, fisheries, marine, tourism and business. A member of Fine Gael since 1983, Andrew has served the party at every level from constituency chair to County Councillor, to serving as a TD, front bench spokesperson on agriculture, Chair of the Oireachtas Agriculture Committee, and now as Minister.
The European Union is pivotal to Ireland and it is vital for Ireland to remain in the heart of Europe. Ireland needs a strong and effective voice in Europe – Andrew Doyle is that voice.
Andrew Doyle has five key priorities in this campaign. He will work to:
Ensure Ireland and Leinster remain in the heart of Europe
Protect the environment and promote climate friendly food production
Support the farming community, ensure CAP is retained and promote the Agri-Food and Drink sector
Cut red-tape and bureaucracy for SMEs and Businesses
Support EU overseas development aid
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