On June 19, 2020 in Ireland announced the third call for proposals under the country’s €1 billion Rural Regeneration and Development Fund.
The Fund is part of the Department of Rural and Community Development’s Rural Development Investment Programme which is funded under Project Ireland 2040.
The Fund is providing €1 billion in investment over 10 years to support the regeneration and development of rural towns, villages and outlying areas. Initial funding of €315 million was allocated on a phased basis over the period 2019 to 2022.
This call under the Fund is for Category 1 applications, which relate to capital projects that have planning in place and are ready to commence at the date of application. It is expected that a funding announcement relating to the second call for Category 2 applications – for projects which require assistance for project development work in order to reach full delivery readiness – will be made shortly.
This call for applications to the Fund seeks to provide assistance in supporting economic recovery in rural areas in light of the challenges posed by the Covid-19 pandemic and to assist in delivering sustainable regeneration in rural towns and villages, driving greater economic activity and helping to address challenges such as dereliction and vacancy.
Applications to the Fund which support in the decarbonization of the economy and environmental sustainability are particularly welcome.
The Fund is seeking to support large-scale, ambitious projects which deliver on the objectives set out above. In that regard, applications of scale are sought, with a minimum funding request of €500,000. Applications to the Fund must be led by a State-funded body – Local Authorities, Local Development Companies, State agencies, commercial State bodies etc. – but collaboration between parties, including with communities, is strongly encouraged.
The closing date for the receipt of proposals is December 1, 2020.