Government seeks EIB funding for flood defences

The government is asking the European Investment Bank to help build flood defences. 

It follows massive flooding and damage in recent storms. 

The coalition has already admitted the 250 million euro set aside for flood defences for the next five years will not be enough. 

Tánaiste Eamon Gilmore says they are looking at securing money from other sources.

“We're in discussions with the EIB to see if we can make the capital works that are associated with flood defences, if they're amendable to EIB funding” he said.

“You mentioned your own assessment of how far the 250 million that we have committed to will go to dealing with flood defences, and we're conscious of that”.

“We're looking at ways in which the EIB can assist us with that” he added.