Bank of Ireland welcomes €2.25bn domestic infrastructure stimulus plan
Bank of Ireland today welcomed the €2.25bn domestic infrastructure stimulus plan and, in particular, the use of private sector funding and the PPP model for the delivery of projects across the Education, Health, Transport and Justice Sectors.
Bank of Ireland also reaffirmed its ongoing support for the provision of debt financing for PPP projects. “Since the onset of the credit crunch in 2007, we have been the lead funder of PPP and infrastructure projects in Ireland, providing debt funding of in excess of €350m for roads, schools and motorway service area projects, amongst others” said Donal Murphy, Director of Project Finance at Bank of Ireland. “These projects were all delivered on time and to budget using well proven PPP and project finance structures and the quality of the motorway network and schools buildings provided are testament to the success of the PPP programmes.”
The Bank is currently working with bidders and the European Investment Bank (“EIB”) on a number of pipeline PPP projects. “We look forward to engaging with the bidders, the NDFA, NRA, NPRF and EIB as we se to support a number of the new PPPs announced today”, concluded Donal Murphy.