Three hundred and fifty jobs are to be created in the Midlands following government approval for two major funding initiatives under the Just Transition programme.
€108 million is being provided for Bord Na Mona's large-scale peatlands restoration project.
In addition almost €30 million is being allocated to 47 projects in the region.
The announcement has been welcomed by local Oireactas members.
The Just Transition Programme in the Midlands is designed to assist communities transitioning out of peat harvesting and into a new, green and sustainable economy.
This funding announcement will see €108 million euro from the Climate Action Fund bolstered by an investment of €18 million from Bord na Móna put towards a ground breaking peatlands restoration project which will employ 350 people and go towards Ireland's target of being carbon-neutral by 2050.
It's set to be confirmed at an official announcement ceremony in Lough Boora, Co Offaly this afternoon.
Climate and Environment Minister Eamon Ryan has also announced the approval of funding of over €100,000 each for 47 large scale projects.
Some of these include allocations of one million euro each for region wide projects including The Bord na Móna Medicinal Herbs Project; a new Digital Learning Hub for Longford Westmeath ETB, a Bord na Móna employees Training and Upskilling project and a Brown to Green Jobs Transition to Eliminate Energy Waste in Midland's Homes. One million euro has also been allocated to develop a new Lanesboro Food Hub and a further million has been approved to support phase 2 of the development of Lough Ree Distillery.
A full list of all successful funding approvals is available below:
