The European Investment Bank has announced it will provide technical expertise in the redevelopment of Galway Harbour.
The EIB will provide the assistance through JASPERS - an advisory facility of the EIB that specialises in both port development and urban regeneration.
The harbour has also been added to the European TEN-T network in the General Approach - something which will strengthen any future bids for grants from the EU’s Connecting Europe Facility.
“Following on from the positive news announced last week in relation to TEN-T, our engagement with EIB JASPERS is a further positive step to realise our ambitious plans for our proposed new Port and inner city regeneration projects,” Conor O’Dowd, CEO of the Galway Harbour Company, said.
Currently, Galway Harbour cannot facilitate vessels with a capacity of over 6,000 tonnes and the redesign will allow it to service larger cargo vehicles.
The new infrastructure will also facilitate the development of the offshore wind sector in the region - a key industry if Ireland is to reach net zero.
“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,” Christian Kettel Thomsen, Vice President of the European Investment Bank, said.
“We are pleased to agree, through JASPERS, a new dedicated advisory partnership with the Port of Galway to maximize the benefits of future investment at the port.”
Galway Harbour dates back to the 10th century and is located on 17 acres of land in the city centre.