The United States has provided $4 million in support to the International Fund for Ireland. US Ambassador to Ireland Edward S Walsh announced the funding on Monday. The decision reverses an early March statement that the US would end its main financial support for the fund.

The International Fund for Ireland originated in 1986 from an agreement between the Irish and British governments. Ronald Reagan, then US president, and Tip O’Neill, US speaker of the House, backed its creation. The fund contributed to foundations for the Belfast Agreement.

The fund supports peace and reconciliation efforts in Northern Ireland. It has financed removal of peace walls and programs to stop recruitment of young people by paramilitaries.

Walsh made the announcement during a visit to the border region. He met representatives of projects backed by the fund. Walsh stated that progress in Northern Ireland over past decades shows how commitment to peace delivers change in lives. He added that the support helps protect nearly $2 billion in American company investments in Northern Ireland and the region.

Shona McCarthy, chairperson of the International Fund for Ireland, said the funding arrives as the organization prepares a new five-year strategy. She noted that US political and financial support over 40 years remains essential to the fund’s neutral work.

Over 40 years, US administrations have given more than $500 million to the fund. The Irish Government has called this the primary channel for US assistance to peacebuilding on the island.