Private Sector Eager To Boost Infrastructure

The private sector wants to work more closely with politicians North and South to confront the infrastructure challenges facing the island, according a survey by Infrastructure Ireland.

Around 96% of delegates who answered the Barclays Commercial Bank survey at the fourth All-Island Infrastructure Conference said they wanted to do more to help the governments solve our most pressing infrastructure problems.

They put energy as the most urgent infrastructure issue facing the island, followed by social housing, and health and education (tied third). Other prime concerns included transportation, water and sewage.

Around half (52%) of the respondents believed both Governments were making sufficient effort to partner with the private sector in order to finance major infrastructure projects.

However, eight out of 10 worried that current levels of investment would be insufficient to support long term growth and more than nine out of 10 admitted the adequacy of future infrastructure would affect where they would locate their business.


Infrastructure Ireland was held in Belfast this month and was attended by delegates with a role or interest in the development of infrastructure on the island.

This year's conference looked at the way forward for delivering and financing the island’s infrastructure investment, particularly under the current difficult economic conditions.

Niall Quinn, Head of Infrastructure and Structured Project Finance, Barclays Commercial Bank Ireland, said: "Both governments are facing the challenge of delivering stimulus via infrastructure at a time when there is such great demand for Government support in so many areas of the economy.

"Our survey confirms that business is keen to work closely with government to identify and prioritise those projects that will deliver the widest benefit to all."

The Northern Ireland Executive plans to spend £6bn over the next three years and Ireland plans to spend €30bn over the same period.

Both administrations have said that infrastructure investment is a priority and will help stimulate the economy in these difficult times.

Mr Quinn added: "In terms of financing, both Governments are already liaising with financiers to ensure the current challenging climate for funding would not be an obstacle to delivering these plans. We are looking to facilitate an even closer working relationship between the private sector and Government on urgent infrastructure projects."

(PR/BMcC)