The Irish government is pushing construction on connected road projects, such as the N2 Clontibret and Donegal TEN-T improvements in 2024 and has committed €600 million to the A5 North-West transport corridor.

“Today's announcement of the power-sharing Executive's return is extremely significant for the people of Northern Ireland and has restored hope for the potential outcomes of the Good Friday Agreement,” Varadkar stated.

The investment, he added, “demonstrates our dedication to collaborating with the new Executive and the UK Government to improve the island of Ireland for all those who call it home.”

“At about €1 billion, this is the biggest financial package the government has ever offered for international ventures.

“Later this year, work on the new A5 could begin, bringing road connection to the North-West on par with other regions of the island.

“A significant East-West project, the renovation of Belfast's Casement Park Stadium will assist optimise the benefits for Northern Ireland of serving as host nation for the UEFA EURO2028 tournament.

“Today, we have decided to allocate €10 million from the Shared Island Fund towards a significant renovation of the Battle of the Boyne site.

“The development of business and interpersonal ties between Dublin and Belfast, as well as all the towns along the route, will be considerably aided by investment in an hourly service on the Enterprise.”

“The goal of this money is to promote all-island investment, strengthen relations between the North and South, and benefit all towns and jurisdictions. It is about realising that, regardless of Ireland's constitutional destiny, investing in people, their quality of life, their opportunities, and future generations are all our duties and a shared good that can only be advanced by cooperation.”

The statement on Tuesday "marks an important moment, and I believe, the beginning of a new and positive chapter in cross-border cooperation," according to Tánaiste and Minister of Foreign Affairs Micheál Martin.

“The government's budgetary promises allow for the realistic advancement of iconic and strategically significant projects like the A5 North-West road corridor and the Narrow Water Bridge, which serves as a tangible and potent symbol connecting North and South.”

“Our investment pledges will help to improve the island's connectivity by rail, with the addition of an hourly-frequency service between Belfast and Dublin, and by road, through the A5 and the linking N2 and TEN-T developments.”

“The building of the iconic Narrow Water Bridge will serve as a cornerstone for the Carlingford Lough region's connectivity and sustainable tourism.”

“With the significant investment in Casement Park's rehabilitation, a fresh educational initiative, and a Shared Island Enterprise Scheme, the Government is eager to collaborate with the incoming Executive and the UK Government to optimise our investment's advantages for the island's citizens.”

“I was quite clear that the Shared Island Initiative needed to be a whole-of-government priority for it to succeed when I founded it at the Department of the Taoiseach in 2020.

“I am excited about the future of the initiative as ministerial colleagues reach out to and start visiting their Northern colleagues.”

The Irish government's long-standing pledge is fulfilled with the financing for the A5 and Narrow Water Bridge projects.

Nearly €250 million has already been allotted by the government from the Shared Island Fund, of which €47 million will be used to advance the Ulster Canal restoration and €44.5 million will go towards the development of a new teaching facility at Ulster University in Derry.

Over the next years, the Irish government will collaborate with the UK government and the Northern Ireland Executive to carry out these initiatives.

Several more Shared Island initiatives are also under progress.