The Government is to seek €850 million from the European Recovery and Resilience Fund to boost the economy here in the aftermath of the pandemic.
The Government's submission to the European Commission was discussed at a Cabinet Committee meeting this evening.
The Committee for Economic Recovery was chaired by Tánaiste Leo Varadkar.
The request for funding will likely focus on investments that would be made in green and digital sectors of the economy.
There would also be an emphasis on social and economic recovery.
"Priority will be given to projects that create jobs, drive balanced regional development and can be completed in less than five years," a spokesperson for the Tánaiste said.
A National Recovery and Resilience Plan is set to be published in May, while a revised National Development and Climate Action Plan will be completed before the Dáil summer recess.