The Taoiseach has launched details of four new funds worth four billion euro as part of the Project Ireland 2040 plans.
The funds will see money directed towards rural development, urban regeneration, climate action and innovation.
It's expected Waterford will be able to access the tens of thousands needed to progress the North Quays project under the Urban Regeneration and Development Fund.
Waterford Minister of State John Halligan says Waterford has been earmarked for investment under the scheme:
"the Taoiseach did mention under the Urban Regeneration and Development Fund the North Quays, so we are now confident the proposal will meet the key assessment criteria - and that is the commitment of private investment, which we have with the North Quays".
Applications will be accepted from June with decisions by the autumn and funding available from next year.
Minister Halligan says there is determination at government level for the north quays development to go ahead.
