EIB

  • Charlestown based Sinn Fein councillor Gerry Murray has welcomed the commencement of preliminary negotiations between Mayo County Council and the European Investment Bank(EIB) with a view to drawing down major investment loans for capital projects across the county and beyond 

     The councillor says in recent times the EU commission has been encouraging local and regional authorities to seek investment loans from the European Investment Bank, in circumstances where their respective Governments are refusing to co-fund infrastructural projects in the regions with the EU.

    There is 50% funding available from Europe for critical infrastructure in the west of Ireland, yet cllr Murray says this and previous governments refuse to provide the necessary matching funds. In these circumstances local authorities in the west are left with little option, he claims ,but to try and access the other 50% via the European Invest Bank.