The government is asking the European Investment Bank (EIB) to help build flood defences. It follows massive flooding and damage in recent storms.

The coalition has already admitted the €250 million set aside for flood defences for the next five years will not be enough.

Tánaiste Eamon Gilmore says they are looking at securing money from other sources.

Meanwhile the Fine Gael MEP Jim Higgins has criticising the Minister for the Environment for deciding not to apply for EU disaster funds for the recent storm damage.

Phil Hogan recently announced that Ireland would not meet the threshold conditions to apply for aid assistance from the EU solidarity fund which was set up to help countries badly effected by the likes of storms and floods.

However Mr. Higgins says he was told this week by the EU Commissioner for regional policy Johannes Hahn that Ireland could still apply for that fund.