The Ireland Strategic Investment Fund (ISIF) has unveiled plans for investment programmes in five regional cities across the country.
he planned programmes, which are expected to total €500m, will focus on Cork, Galway, Limerick, Waterford and Kilkenny.
ISIF, which is part of the National Treasury Management Agency, is a fund with a mandate to invest to support economic activity and employment in Ireland.
According to ISIF, the investments in each regional city will create new places to work and live. The strategic fund will also target its other ongoing investments into emerging and scaling businesses located in the five regional cities to support sustainable growth.
“We are planning a material step-up in our regional investments with a new initiative to unlock the economic potential of our 5 regional cities by backing transformational projects in each,” said ISIF director Nick Ashmore.
This programme will “generate economic benefits, supporting employment and making Ireland a more sustainable, competitive and attractive place,” he added.
The regional focus is a key focus of ISIF’s new investment strategy which will aim to tackle “key strategic challenges” facing Ireland, including climate action, housing and enabling infrastructure, food, agriculture, as well as scaling indigenous businesses.
ISIF will also assist Irish start-ups to scale up to reach the €1bn unicorn valuation within 5 years.
The strategy will also see ISIF fund the delivery of 25,000 new homes across Ireland by 2030 through a range of equity and debt investments. This follows ISIF’s prior commitment to invest €950m in housing to deliver 16,000 new homes in the coming years.