What you need to know about the Bank of Ireland’s capital plan
The Bank of England has set out a capital plan that it hopes will make the Irish economy more competitive and that it can afford to make more money, even after Brexit.
It has put €7.6bn ($8.6b) in its capital fund to finance the Irish government.
It also set out an €8.8bn (€9.3b) bond offering.
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Read moreThe plan outlines the capital allocation over the next three years, starting in 2019.
The Government says it wants to spend over €100bn on infrastructure projects, which the Government says will increase the country’s gross domestic product.
This includes new roads, ports, hospitals and public transport.
It says it will build €2.7bn worth of new homes, making up for cuts in social housing, with the aim of having 80,000 new households by 2020.
The Irish economy is expected to grow by around 2.5% in 2019, according to the Office for National Statistics.
The Bank of India has also outlined a €10bn capital plan, which is aimed at attracting investment and creating jobs in the country.
This is partly based on the UK, where it has pledged to invest an extra €4bn to create 1,500 new jobs over the coming three years.
The bank said it expects to invest around €1.6 billion in infrastructure in Ireland over the course of the next two years.
These will include roads, roads, railways, new public transport links, new power generation and other infrastructure.
The plans come in the wake of a series of Brexit-related decisions.
On Tuesday, the Bank decided to delay Brexit until 2021, with a focus on infrastructure and growth.
On Thursday, it confirmed it would continue to fund Brexit, although it will only fund the Irish Government through 2021.
The Bank said it will make its decisions on Brexit in March 2019.
Ireland has also committed to a further €20bn in funding for infrastructure projects over the period 2020-2021.
This means the Government will spend around €2bn on the construction of the €50bn A9 rail link from Cork to London, with another €8bn for the extension of the Dublin Metro rail network.
On Friday, the Irish parliament approved a €2 billion bond offering, to be issued in March 2020, by the Irish Bank Resolution Corporation (IBRC).
It will allow Ireland to borrow more for the first time since the global financial crisis.