The Irish Greyhound Board has appointed Allied Irish Bank to provide the financial back up for the new Limerick Greyhound Stadium.

The appointment is the latest in a series of tender conclusions as the project gains momentum.

The new Limerick Stadium on the Dock Road in Limerick will be one of the largest construction projects to commence in 2009.

It will provide employment in the city for 250 jobs during the build and 100 permanent jobs upon completion in September of 2010.

"AIB will be providing finance for this deal which is a cornerstone of our long term plans for development of the sport," said Irish Greyhound Board Chief Executive Officer Adrian Neilan.

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"The bank has an existing strong connection with sport and community through its programmes in GAA, rugby, golf and the arts. We are pleased that they are extending that support into our own sport and the industry that supports nearly 11,000 full and part time jobs throughout the country," he said.

Conor Maguire, AIB Senior Manager, said the financial performance of Irish Greyhound Board over the past two years has been "very strong with considerable improvement in operational effectiveness".

"It is now showing leadership by progressing with this project at a time when construction costs have come down significantly.

"We are pleased to be in a position to assist in the financing of what will be a landmark project for the city of Limerick and for the sport of Greyhound Racing," added Mr Maguire.

(PR/JM)