03 Feb 2017
EUROPEAN COMMISSION DAILY NEWS – 03 FEBRUARYBrussels Daily
Investment Plan for Europe: EUR 28.5 million support for Irish forestry sector
The European Investment Bank has agreed to loan EUR 28.5 million to support investments in the Irish forestry sector. This transaction benefits from the support of the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe. The loan will allow pan-European forest investment fund Dasos to finance crucial upgrades to Ireland’s forestry infrastructure and consolidation of its management. European Commissioner for Agriculture and Rural Development Phil Hogan said: “Forests help to keep our rural areas vibrant and sustainable, providing over three million jobs in the EU. They also play a major role in the protection of EU biodiversity and represent a key sector in the transition towards a low-carbon and climate friendly economy. Continued investment in the sector is therefore a win-win for our economy, for our local communities, and our environment. This strategic partnership with the European Investment Bank will help to achieve these objectives, deliver the Investment Plan for Europe and support jobs and growth in rural Ireland.” A full press release is available here.
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