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| The EU Commission Authorizes Financing of Irish Rail Network The European Commission has decided that the State guarantee which Ireland grants to Corąs Iompair Eirann, the Irish transportation board, for the financing of new rail infrastructure, does not constitute State aid. Accordingly, it has not raised any objections to this measure, which Ireland had notified in 2004. According to the Irish authorities, the Irish rail network is currently in an unsatisfactory condition and is in urgent need of new investments. The guarantee will allow Corąs Iompair Eirann to raise money with private banks in order to finance the needed investments more easily. write your comments about the article :: © 2006 Construction News :: home page |