The funding, awarded by the Urban Regeneration and Development Fund (URDF), will help develop projects to rejuvenate the Limerick region.
Projects that will benefit from the funding include the Opera Project, O'Connell Street Redevelopment, Limerick's Living Georgian City, development of world class waterfront project and a regional digital collaboration and virtual reality centre.
Welcoming the announcement, Conn Murray, Chief Executive of Limerick City and County Council said: "This funding will enable us achieve our vision, that of placing Limerick city centre at the heart of a vibrant and innovative region with the funding to develop a new world-class waterfront and rejuvenation of the city's Georgian Quarter.
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"These innovative and transformational urban regeneration projects, which are a catalyst for further development, are likely to leverage significant further public and private investment.
"This fund is about backing better and more coordinated planning for future generations in a way that meets the needs of our growing population and economy more sustainably."
Mayor of the City and County of Limerick, Cllr James Collins added: "The funding is another vote of confidence in Limerick and the Limerick 2030 Economic and Spatial Plan as we continue to redevelop Limerick City Centre. These are projects which are going to transform Limerick in the years to come. All of these projects will hopefully encourage more private investors to look again at the potential of Limerick.
"Today's announcement, added to the funding announced on Friday for rural projects, shows that we are supporting projects that have an important economic focus but also a social focus, which have people and communities are their heart."
(CM/MH)
