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All-island investment fund worth €50m announced by taoiseach

BBC Taoiseach (Irish Prime Minister) Micheál Martin at Narrow Water bridge launchBBC
Micheál Martin met local representatives at Narrow Water, outside Warrenpoint, last month.

The taoiseach (Irish prime minister) has announced €50m (£43m) funding to develop a number of projects under the government's Shared Island Unit.

Micheál Martin's spending announcements are in the areas of tourism, environment, and cultural heritage.

The unit was established in 2020 and has ringfenced €1bn (£857m) to deliver all-island investment projects.

In two years, the Irish government has allocated €140m (£120m) from the fund.

Its flagship projects include the Narrow Water Bridge linking counties Down and Louth and the reopening of a section of the Ulster Canal.

Monday's announcements were:

  • €11m (£9.4m) for all-island biodiversity actions on peatlands restoration and biosecurity
  • €7m (£6m) for tourism agencies to progress a collaboration between the Wild Atlantic Way & Causeway Coastal Route
  • €8m (£6.8m) for a Shared Island dimension to the Creative Ireland programme and cultural heritage projects over 2023-2027;
  • €2m (£1.7m) funding contribution to a new Shared Island Civic Society fund
  • €12m (£10.3m) for development of a cross-border innovation hub
  • €10m (£8.6m) funding contribution to a second round of the North-South Research Programme
An Bord Pleanála Narrow Water BridgeAn Bord Pleanála
The Narrow Water bridge would link Northern Ireland and the Republic of Ireland and has been allocated €3m (£2.6m) from the fund.

Speaking at Dublin Castle, the taoiseach said the funding would capitalise "on the island's tourism offering, celebrating our diverse cultures and traditions, and enabling world class research and innovation capacity on the island of Ireland."

"This forward-looking and positive ambition is at the very heart of our Shared Island Initiative," he said.

"We will do more in the years to come - with priorities set by government on enterprise, education, active travel and transport - to create a more connected, sustainable and prosperous island for all communities on the island of Ireland."

Mr Martin told delegates that his shared island unit has had very little opposition.

"Civic unionism has participated. Political parties in Northern Ireland have not put up any obstacles against the shared island, either the projects, research or dialogue," he said.

"A lot of people are engaging in the process.

"The key principle was that it is without prejudice to peoples' constitutional position. We have to be honest and demonstrate our bona fides in that respect."

The taoiseach said the resolution of the dispute over the Northern Ireland Protocol was very important for the broader political stability of Northern Ireland.

He said it was very important in terms of better relationships between the UK, Northern Ireland, and the Republic of Ireland

"The protocol isn't going anywhere. There are issues around it that can be resolved," Mr Martin said.

"I would be confident given the declared wish of the UK prime minister is that he would prefer a settlement.

"In a broader sense, to enable politics in Northern Ireland to get going again , the protocol issue needs dealt with."

I do see opportunity to resolve this and it is important that we do resolve it."

Mr Martin confirmed the unit and associated funding would continue beyond his tenure as taoiseach.

Under the Irish government coalition agreement, Mr Martin is due to step down as taoiseach in just under two weeks and take up the tánaiste (Irish deputy prime minister) position.

Current Tánaiste Leo Varadkar will become taoiseach for the remainder of the government's term.