The National Development Plan - Project Ireland 2040 - will commit to expenditure on capital projects totalling more than €165 billion. Here is a look at the impact on Northern Ireland as part of the plan's 'A Shared Island' Fund.
There will be up to €3.5 billion available for cross-border projects and co-operation over the next 10 years under the terms of the National Development Plan.
The money will come from different funding streams and be used to develop infrastructure projects, climate action and skills and educational enhancement.
As part of the Government's commitment, the amount of money available under the Shared Island Fund will be doubled to €1 billion and its lifetime extended out to 2030.
Some of the priority projects are already well known, including the revamping of the Ulster Canal and the Narrow Water bridge at Warrenpoint.
But there is also now a greater emphasis on sustainability, with action promised on developing and connecting greenway networks and climate mitigation measures.
The ten-year plan will require collaboration between the Government, the Northern Ireland Executive and councils, particularly in the border regions. The EU and UK governments will also be involved.
It is understood there have been detailed conversations to identify strategic priorities.
"Our ambition is to create a more connected, sustainable and prosperous island for us all. We will do through a wide-ranging, sustained project of investment, delivered through all-island partnerships," said Taoiseach Micheál Martin.
Other targets for investment include faster and more regular rail links between Belfast and Dublin; co-ordinated investment for improved roll-out of electric vehicle charge points; funding for all-island climate actions such as peatland restoration; and a continued focus on cross border health and education co-operation.
