European Investment Bank support for Irish water will reap benefits for Cork – Daly

24th January 2013 - Deborah Sweeney

Fine Gael Cork South West Deputy, Jim Daly, has welcomed the announcement of a €200 million loan from the European Investment Bank (EIB) to support Ireland’s Water Services Investment Programme. Deputy Daly said that he is delighted that of the three projects in Cork that are to benefit from this funding, two are in Cork South West; in Clonakilty and Bandon.

“The EIB continues to express confidence in Ireland’s recovery and in our ability to pay our way by facilitating loans to enable us to invest in our economy. The latest €200 million loan will be used to finance 23 projects in 11 counties, including Cork to upgrade water mains, water and wastewater treatment facilities and to improve water conservation.

“Of the three Cork projects that have been earmarked for funds from this loan, one is in Clonakility and the other is in Bandon. In Clonakility the Water Waste Treatment Plant of Clonakility Sewerage Scheme is in line to be upgraded. In Bandon, investment will also be made in the sewerage scheme.

“Ensuring the our water quality is up to scratch, that we are minimising waste and that our treatment plants are working as they should not only benefits the local environment but also ensures that our reputation as a clean, green island is secure. This will help to encourage tourism and industrial investment from industries such as the pharma and IT sectors which will in turn create much needed jobs.

“This Government has been prioritising water sector reform and is in the process of transferring responsibility for our water from a fragmented system which is overseen by Local Authorities to one new public utility, Irish Water.

“Last year the EIB invested €504 million in Irish schools, business and renewable projects. Its continued support for Ireland will enable the Governmetn to get on with the task at hand of getting the country back on track and delivering for the people while also acting as a green light for other third party investors who may be looking at Ireland as a good investment.”

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