Written by 8:49 am EU Investment

European Investment Bank to provide advisory support to Galway Harbour redevelopment

The European Investment Bank (EIB) will provide advisory support and technical expertise to Galway Harbour Company and Galway City Council as part of the planned development of the city’s port.

alway Harbour redevelopment will look to build new infrastructure at the port which can service larger cargo vessels and remain open 24 hours. This would accompany a new urban quarter located in the inner docklands of the city, as well as a hydrogen energy hub.

The EIB advisory support will focus on the urban redevelopment side of the project, as well as funding options, project structuring and technical design.

The Port of Galway was also added to the Trans-European Transport Network by European transport ministers this week which will now allow it to avail of grant funding under the EU’s Connecting Europe facility.

This will also be targeted at ongoing plans to grow renewable energy developments off the west coast of Ireland.

Chief executive of Galway Harbour Company Conor O’Dowd said the engagement with the EIB is “a further positive step to realise our ambitious plans for our proposed new port and inner-city regeneration projects.”

EIB vice president Christian Kettel Thomsen said that the advisory partnership would “maximise the benefits of future investment.”

“The European Investment Bank supports investment in ports across Europe and around the world that enhances maritime transport, unlocks regional economic development and cuts carbon emissions,” he added.

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