The International Fund for Ireland has announced a further £7.4m in funding for projects that support social and economic development.

The latest funding package was announced after the fund's most recent board meeting in Co Louth.

Denis Rooney, Chairman of the Fund, said: "The current economic difficulties can leave the more marginalised people in our society further isolated, and at greater risk of involvement with dissident groups. Positive action is needed to address this."

The IFI was established by the Irish and British Governments in 1986 with the objectives of promoting economic and social advance and of encouraging contact, dialogue and reconciliation between unionists and nationalists.

International contributors to it include the US, the European Union, Canada, Australia and New Zealand.

Since its inception, the fund has committed more than £628m to a wide variety of projects in Northern Ireland and the border counties in the Republic.

Included in the latest funding round is more than £6m for the fund's Community Based Economic and Social Regeneration Programme.

Now, some 15 projects across Northern Ireland and the southern border counties will reap much-needed funding, which will go some way towards supporting economic regeneration as a basis for cross-community and cross-border activities, it said.

More than £845,000 will go towards projects to deliver ground-breaking community work that addresses difference and division in society.

A further £467,000 will enable Cromac Regeneration Initiative and the Corrymeela Community to deliver projects designed to promote and facilitate integration.

(BMcC/GK)