How Ireland ranks within EU countries
Total investment
March 2022
- Total financing under the European Fund for Strategic Investments (EFSI) in Ireland amounts to €1.6 billion and is set to trigger €7.5 billion in additional investments
Infrastructure and innovation projects
- 28 approved projects financed by the European Investment Bank (EIB) with EFSI backing
- approximately €1.2 billion in total financing
- set to trigger €5.5 billion in total investment
Small and medium enterprises (SMEs)
- 11 approved agreements with intermediary banks or funds financed by European Investment Fund (EIF) with EFSI backing
- €409 million in total financing
- set to trigger approximately €2 billion in investments with some 16,000 SMEs and mid-cap companies expected to benefit from improved access to finance
Examples of projects supported by the Investment Plan in Ireland
The EIB is providing €80 million in financing for the Oweninny wind farm project in North County Mayo. Located between Crossmolina and Bangor Erris, the site was formerly used for peat harvesting by Bord na Móna to provide indigenous fuel for a power station at Bellacorick, up to its decommissioning in 2003. Supported by the Juncker Plan the brownfield site will now be regenerated and used to produce clean energy for 50,000 Irish families.
Healthy food and feed: DEVENISH NUTRITION
Devenish Nutrition develops and delivers sustainable and innovative nutritional products and solutions for the feed and food industry to improve human health and the environment. A €40 million loan will enable Devenish to develop a purpose-built Global Innovation Centre in Dowth, County Meath, from where it will develop and showcase its ‘One Health – from Soil to Society’ research, development and innovation programme. It will also fund innovation-related capital projects and research into optimised animal nutrition, food innovation, health and sustainability.
The EIB is providing €155 million in financing to build two new passenger and vehicle ships for the Irish Continental Group subsidiary Irish Ferries. The two ferries will increase passenger and cargo capacity on routes to Ireland, replace older and smaller vessels, and significantly reduce emissions from the Irish Ferries fleet. The new ferries are expected to be used on both the Dublin-Holyhead and Dublin-Cherbourg routes to reflect demand for a greater choice of services from Ireland to the UK and direct to continental Europe.
The EIB is providing €29 million in financing to the Dasos Fund to help sustain 12,000 hectares of productive forest land in Ireland. This project will deliver many environmental benefits including climate change mitigation and adaptation, improved management of soil and water resources and protection of biodiversity. With this investment, Ireland hopes to increase its forest area from its current 11% closer to the EU average of 42%.
Local health clinics: PRIMARY CARE
The EIB is providing €70 million to this Public-Private Partnership in Ireland for the construction of 14 new health centres across Ireland. These centres will increase access to primary healthcare and social services, make services more cost-effective and improve facilities. All centres will provide general practitioner surgeries, occupational therapy, social services and dietary advice. Some will also accommodate mental health, dentistry and addiction services, early intervention teams, on-call doctors and ambulance bases.
Full list of EFSI-backed projects approved by the EIB
Full list of EFSI-backed agreements with financial intermediaries signed by the EIF