9 hours ago
Calls for transparency around cross-border project funds
There is significant scope to enhance transparency around funding for cross-border projects, one of the Government's key policy programmes, the Parliamentary Budget Office has stated.
More than €2 billion has been pledged to the Shared Ireland Initiative over the period from 2021 to 2035.
However, the report by the Budget Office found that there was currently a disjointed approach to financial reporting on the Shared Island Fund.
More than €550 million has been committed to date but the Budget Office stated that it was unclear how much of this funding has been allocated at this point.
The Shared Ireland Initiative is aiming to promote cooperation across the island of Ireland.
Some of the funding commitments include €600 million for the A5 North-West transport corridor, the construction of the Narrow Water Bridge along with a contribution towards the redevelopment of Casement Park.
A Government spokesperson said all allocations from the Shared Island Fund are reported on in Dáil statements, parliamentary question replies and in the Initiative's annual reports.
They said the Department of the Taoiseach will consider the Parliamentary Budget Office report in consultation with the Department of Public Expenditure and NDP Delivery and Reform.
"More detailed project-level reporting on Shared Island Fund allocations would need to take account of the fact that individual Departments are responsible for management of and reporting of funds within their votes, including from the Shared Island Fund," the spokesperson said.
