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Ireland launches £32.5bn infrastructure fund

More than €39bn (£32.5bn) is to be spent by the Irish Government on capital works over the next six years, the Taoiseach has announced.

Public transport, roads, schools, health facilities, the environment and job supports will be some of the key areas of investment under the plans.

Brian Cowen said it was the type of stimulus needed to help rebuild confidence and boost economic recovery.

“Investment in infrastructure is an investment in the future of the Irish people,” the Taoiseach said.

“It will not only greatly improve the lives of our citizens, it will help to create jobs now and sustain jobs for the future.”

Cowen said the country was in a new situation and priorities were refocused.

Under the plans there will be a doubling of investment through the enterprise agencies to help build the so-called smart economy and create jobs.

Money will also be put into public transport and upgrading the country’s water supplies.

“With the national motorway network nearly completed and tender prices significantly reduced, we are in a position to press ahead with a new capital investment programme that is ambitious, appropriate and affordable,” added Cowen .

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