Cork County Council have signed for the drawdown of a €35 million loan from the European Investment Bank, a portion of which The Avondhu understands will be allocated towards the rehabilitation of Fermoy Weir and fishpass.
According to Cllr Frank O’Flynn, the monies will however, have to be matched by central government or another source in order to cover the costs of the entire project.
It is also understood that some of the money will be put towards the redevelopment of the town centres of Fermoy and Mitchelstown.
“This is very welcome news. It shows that Cork County Council are interested in putting the life back into town centres,” Cllr O’Flynn told The Avondhu.
“I’m also delighted that the restoration of Fermoy Weir and fishpass is one of the planned projects which means that Cork County Council will have their house in order when the planning permission comes through.”
These projects are among a total of 54 across the county which will benefit from the loan and it is expected that a further loan is due to be taken out by the local authority in the near future.