A FINANCIAL commitment of €500 million was made by the Irish government yesterday to "foster new investment and development opportunities on a north/south basis".
Revealed as part of its budget package, it is hoped the funding allocation over the next five years will help develop cross-border infrastructure, including routes such as the A5 Dublin to Derry and the Narrow Water Bridge project.
It is part of Taoiseach Micheál Martin's 'Shared Island' initiative to boost co-operation with the Stormont Executive.
In a statement, Mr Martin said the fund "will foster new investment and development opportunities on a north/south basis and support the delivery of key cross-border infrastructure initiatives set out in the Programme for Government".
"It also opens the way for investing in new all-island initiatives in areas such as research, health, education and the environment, in addressing the particular challenges of the north west and border communities, achieving greater connectivity on the island and enhancing the all-island economy and all aspects of north/south co-operation," he said.
It is expected that the Irish government will work with the Stormont Executive to deliver key cross-border infrastructure initiatives such as the A5 Derry road project, Ulster Canal connection from Clones to Upper Lough Erne, Narrow Water Bridge and cross-border greenways including the Sligo-Enniskillen.
The financial commitment to cross-border infrastructure was welcomed by SDLP assembly member for West Tyrone Daniel McCrossan.
"Tackling regional economic imbalance and increasing all-island connectivity are key ambitions for the SDLP and we have been making the case for the inclusion of projects as an Irish government priority," he said.
"The A5 is an important piece of cross-border infrastructure that will bring neighbouring communities closer together and open up this part of the island for further investment.
"Just this week, SDLP Infrastructure Minister Nichola Mallon MLA assured me that the A5 remained a top priority and we look forward to a positive update from the minister soon."
Órfhlaith Begley, Sinn Féin MP for West Tyrone, welcomed developments on Twitter but said there was "an onus on the government to deliver on the original commitment to co-fund this project (A5).
"The public inquiry concluded in March, we now need to see action being taken by Minister Mallon."
