Taoiseach Leo Varadkar with Finance Minister Paschal Donohoe (right) and Housing Minister Eoghan Murphy at the launch of the Project Ireland 2040 funds in Government Buildings, Dublin. Picture: PA

Safeguards are being put in place to prevent ministers from using a €4bn fund under Project Ireland 2040 to win favour in their own constituencies.

Taoiseach Leo Varadkar and six ministers took part in a launch yesterday of funds aimed at urban regeneration, rural development, combating climate change and technological innovation.

Local authorities, State agencies, educational institutions and community groups are set to be pitched against each other for the funding, starting with €195m next year.

A total of €2bn will be allocated over time to Eoghan Murphy's Department of Housing, while €1bn will be put in a Rural Development Fund under Michael Ring.

Business Minister Heather Humphreys will oversee a fund worth €500m which will be given out to companies and colleges developing "disruptive technologies".

She said there would be a special emphasis on "truly game-changing" ideas in areas such as robotics.

Climate Change Minister Denis Naughten will meanwhile co-ordinate a €500m fund for initiatives that will help achieve Ireland's energy targets.

Asked by the Irish Independent what assurances were in place to ensure ministers didn't approve projects for political gain in their own constituencies, Finance Minister Paschal Donohoe said safeguards were being put in place.

"Number one, each government department will have a panel. That panel consists of senior civil servants, and independent experts in particular areas. That panel will then make recommendations to the minister about how the money is used.

"While it is up to the minister to decide, because it is taxpayers' money, what the panel recommends back is going to play a direct role in what the minister decides to do."

Mr Donohoe said the panel will also have to justify the selected projects to be implemented. Specific marking criteria for the funding of projects will be set out.

Explaining the type of projects he believes will receive the money, Mr Varadkar said: "For the €2bn urban fund that the Department of Housing is going to manage, it is about accessing city centre sites that are ripe for redevelopment for business, new homes and new amenities.

"In rural areas it might be things like community facilities in a town like Shannon, or creating a public space. It is those kind of projects we want to see".

The first call for applications will be made in late June with the Government planning to start issuing funds in October.

Irish Independent