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Brexit ends infrastructure fund hopes for North - Hazzard

7 March, 2017 - by Chris Hazzard

Sinn Féin MLA Chris Hazzard has said news that the European Investment Bank (EIB) will not commit to an investment fund for the north is part of the price of Brexit. 

Mr Hazzard said: 

"In May 2015 Arlene Foster, as Finance Minister met with the European Commission in an effort to create local opportunities from the EU’s Investment Plan for Europe; her DUP colleague Simon Hamilton also spoke of the need for the Executive to leverage additional finance from European sources. 

"Within months the DUP, led by Arlene Foster, championed the Brexit cause and drove all future infrastructure funding opportunities off the Brexit cliff. 

"Recently we had the concerning news that the European Investment Bank president, Dr Werner Hoyer, has confirmed that the EIB is no longer in a position to commit to any potential infrastructure fund. 

"This represents a loss of hundreds of millions of pounds of potential vital infrastructure loans for projects such as transport, telecommunications and energy. 

"The DUP might have received a small fortune to champion Brexit, but it is very clear the people of Ireland will pay a heavy price."

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