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€269m for R&D fund

IRELAND has secured €269m from the European R&D fund to assist Irish companies and higher education institutions.

The investment is to be provided for research projects in areas such as ICT, health, nano-technology and energy, according to Minister for Science, Technology and Innovation, Conor Lenihan TD.

The €50bn Seventh EU Framework Programme, the largest European R&D funding programme ever, is seen as a major asset in the EU's fight against the economic crisis.