The €1bn Rural Development Fund, as part of Project Ireland 2040, will support job creation and aims to strengthen rural economies, focusing on towns with a population of less than 10,000 people, as well as villages and outlying rural areas. The €500m Climate Action Fund will support initiatives that contribute to the achievement of Ireland’s climate and energy targets.

Macra na Feirme national president James Healy has welcomed this news. ‘‘The announcement of financial support for rural communities, as well as this financial commitment from the Government to achieve our climate and energy targets, is very encouraging.

‘‘Macra na Feirme has been calling for Government investment in rural Ireland for quite some time and we hope the announcement of these funds is the beginning of a serious and sustained effort to revitalise rural Ireland over the coming years,’’ he said.