Press release
Minister Ring seeks new applications for €1 billion Rural Regeneration and Development Fund
From Department of Rural and Community Development
Published on
Last updated on
From Department of Rural and Community Development
Published on
Last updated on
Minister Ring TD, Minister for Rural and Community Development, today announced the third call for proposals under the 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 town, villages and outlying areas. Initial funding of €315 million was allocated on a phased basis over the period 2019 to 2022.
Announcing the third call under the Fund, Minister Ring said :
“I am pleased to announce the launch of the third call for proposals under the Rural Regeneration and Development Fund. The impact of the funding allocated under previous call to the Fund has been transformative for rural communities. Since the conclusion of the first call in late 2018, this Fund has provided €148 million in support for over 100 projects, located all across the country, worth a combined total of €212 million. The funding of these projects was very well timed, as they are right now delivering an immediate and much needed economic stimulus in rural Ireland. The assistance provided by this Fund has meant that businesses and communities have benefitted from the activity and jobs provided in delivering these projects, at precisely the time they have been most needed.”
This call under the Fund is for Category 1 applications, which relates 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 decarbonisation of the economy and environmental sustainability are particularly welcome.
The Minister continued :
“The level of investment provided by the Fund is more important than ever to address the challenges arising from the COVID-19 crisis and to drive the economic recovery and sustainable development of rural areas. The focus of this third call will be to support large-scale strategic projects that will significantly assist our rural towns and villages to bounce back from the crisis in the months ahead.”
The Minister concluded :
“It is vitally important that the project proposals for the Fund seek to make a tangible and sustainable contribution to economic recovery, the continued development of rural towns, villages and their communities and help support the transition to a low carbon and climate resilient economy. In order to make certain that we receive the very best applications possible and that the requirement for communities, agencies and Local Authorities to source the necessary match funding is kept to a minimum, I have increased the funding rate that will apply to projects approved under the third call under the Fund to a maximum of 90%.”
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 12 noon, on Tuesday 1st December 2020 .
Full details of the Rural Regeneration and Development Fund are available on the Department of Rural and Community Development website at Rural Regeneration Development Fund
Rural Development Investment Programme
The Department of Rural and Community Development’s Rural Development Investment Programme includes a number of integrated funding interventions:
The Department’s total funding allocation for 2020 for the Rural Development Investment Programme is €149.7 million.
The Rural Regeneration and Development Fund
The Rural Regeneration and Development Fund was established to deliver on the National Strategic Objective in the National Development Plan 2018-2027 of Strengthened Rural Economies and Communities and will be rolled out over a 10-year period. The Fund is administered by the Department of Rural and Community Development.
The Fund provides investment to support suitable projects in towns and villages with a population of less than 10,000, and outlying areas, which will deliver on the National Strategic Objective of Strengthened Rural Economies and Communities and achieve sustainable economic and social development in these areas. Initial funding of €315 million has been allocated to the fund on a phased basis over the period 2019 to 2022.
Calls for applications to the Fund are sought under two categories. Category 1 relates to projects with all necessary planning and other consents in place and which are ready to proceed, while Category 2 projects are those which required further development to become ready for Category 1 status. The call the Minister is announcing today relates to Category 1.
The first call for applications to the Fund closed in September 2018. Arising from the first call, 38 successful Category 1 projects and 46 Category 2 projects were announced, with funding of €86m provided from the Fund to support projects worth €117m.
The second call for Category 1 applications for the Rural Regeneration and Development Fund closed in August 2019. Arising from the second call, 26 projects were approved for funding of €62 million to support projects costing €95 million.
To date, the Fund has now provided €148 million for 110 projects across Ireland, worth a total of €212 million.
The second call for Category 2 applications closed in 28th February 2020. The applications received under this call are currently being assessed under the guidance of the Project Advisory Board, made up of representatives from key Government Departments and independent experts. It is expected that an announcement of successful applications from this call will be made shortly.
The Department has produced a guidance document, which can be accessed on our website, for those seeking more information on this third call for Category 1 call applications from the Fund. In addition, the Department is also planning information and discussion opportunities for stakeholders relating to this call for applications.