The Western Development Commission (WDC) and Roscommon LEADER Partnership (RLP) have today announced the signing of a Memorandum of Understanding (MOU) aimed at supporting community projects and social enterprises throughout County Roscommon. The partnership builds on the success of a pilot project during the previous LEADER programme, where WDC provided term loans and bridging finance totalling €2.6 million to 31 projects across the county.
This MOU formalises the collaboration between the two organizations to streamline access to match funding by way of term loans and bridge finance for the Leader grant for projects funded through the LEADER Programme 2023-2027 in Roscommon. It aims to ensure that community-led initiatives and social enterprises can secure the necessary funding to maximise their grant drawdown and meet their development goals.
Under the agreement, WDC will offer bridging finance and term loans to eligible projects, with loan amounts ranging from €50,000 to €200,000.
Gillian Buckley, Investment Manager at WDC, emphasized the importance of this partnership in driving economic and social development in rural communities:
“The Western Development Commission is committed to supporting community groups and social enterprises across the Western Region. This Memorandum of Understanding ensures that these vital projects in County Roscommon can access the flexible and affordable finance they need to thrive. Our successful collaboration with Roscommon Leader Partnership during the last LEADER programme highlighted the positive impact this kind of support can have on our communities, and we look forward to building on that success in the years to come.”
Michael Frain, Chairperson of Roscommon LEADER Partnership, also expressed his enthusiasm for the collaboration, noting its potential to strengthen the community:
“This MOU is a clear demonstration of our commitment to fostering sustainable growth in County Roscommon. By working with the Western Development Commission, we are enabling local communities to overcome financial barriers and access the funding they need to develop impactful projects. These initiatives will not only create jobs but also build stronger, more resilient communities.”
The collaboration between RLP and WDC underscores a shared commitment to ensuring that County Roscommon maximises the benefit of the LEADER Programme, helping to sustain rural development, create jobs, and strengthen community ties.
For more information on Bridging loans and MOUs with the Western Development Commission see here.
