Using public money to attract private money is the key to a successful partnership that will see the regeneration of the former Ebrington Barracks according to Finance Minister Sammy Wilson.
Mr Wilson was in Londonderry yesterday for a tour of several projects that received public money including £13.5m for the Peace Bridge, £4m for St Columb’s Cathedral and several millions for Ebrington Barracks.
The minister cited the work at the former Army base in the Waterside as an example of where public and private money can lead to regeneration.
“The development of this site will boost housing, commerce, entertainment and tourism in the city and while the public purse has made considerable contributions towards this regeneration, there is a role here too for the private sector,” he said.
The minister also went to the site of the Peace Bridge, which is the largest single regeneration project the city has seen since the Foyle Bridge, three decades ago.
The pedestrian and cycle bridge will link the cityside and Waterside at the Guildhall Square and the central area of development at Ebrington. It is expected to be completed in late spring 2011.