merrion street

£75million sterling for A5 Derry to Dublin Road. Extra £25 million secured in funding up to 2019.

Minister for North South Co-Operation, Seán Sherlock, TD, has welcomed extra funding of £25 million towards the A5 route to facilitate better all-island connectivity.

This additional funding is part of the Agreement reached today at Stormont following talks chaired by the Irish and British Governments in which the five main parties in Northern Ireland participated.

“For some time now, we have sought to address international inward investment opportunities to facilitate greater economic growth between North and South and most especially in the North West,” said Minister Sherlock, who is part of the Irish Government negotiation team at Stormont House.

“The A5 is of strategic importance to the North West and additional funding is critical to the continued economic recovery across the island.”

Coupled with the existing commitment of £50million from the Irish Government, the extra £25 million support to the A5 project will bring to a total of £75 million in capital funding from the Irish Government for the project for 2017 to 2019.

North West Gateway Initiative €2.5million

“This agreement commits an additional investment of €2.5million, which will be matched by the Northern Ireland Executive, in supporting economic regional development to help create jobs and promote investment in the North West.

"The North West Gateway Initiative which involves Donegal Country Council and Derry City and Strabane District Council will be supported in its regional development work by this funding which is a demonstration of the Government's commitment to deliver on the economic and social regeneration of this cross-border region."

Minister Sherlock also pointed to the tourism potential of the restoration of the Ulster Canal, in which the Irish Government has already invested €2 million.

“To date we have secured investment for the restoration of 2.5km of the Ulster Canal. We will continue to work with the Northern Ireland Executive to identify projects and funding opportunities for the restoration project which is an important Blueway and Greenway development.”