The European Investment Bank (EIB) plans to provide technical expertise to the Port of Galway for its redevelopment plans.
The EIB will offer this expertise through an advisory facility specialising in port development and urban regeneration known as JASPERS – acronym for Joint Assistance to Projects in European Regions.
The port has recently been added to the European TEN-T network, which will positively influence any future bids for grants from the EU’s Connecting Europe facility.
Galway Harbour Company chief executive Conor O’Dowd described the EIB engagement as a “further positive step to realise our ambitious plans for our proposed new port and inner city regeneration projects”.
The port is currently tidal, meaning it cannot handle vessels with a capacity of over 6,000 tonnes.
Planned development aims to facilitate growth of the offshore wind sector on the western seaboard.
“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,” EIB vice president Christian Kettel Thomsen 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.”
JASPERS has supported over 1500 major projects in the past 15 years, including Project 2040 infrastructural schemes in Ireland such as Metrolink, DART+ , BusConnects and the Smart City pilot scheme in Sligo.