Published Friday, 11 November 2011
Earlier this week, the Irish Government announced the withdrawal of the £400m funds earmarked for the expansion of the road in the 2011-2015 budget period.
Dublin blamed "tight fiscal constraints" for the decision.
However, UTV now understands the Irish Government will announce fresh details of their contribution to the project during next week's North South Ministerial meeting in Armagh. It is expected to be significantly lowered.
The Irish government contribution to the A5 will only be a fraction of the original £400m but enough to re-profile the project.
UTV's Political Editor Ken Reid on Twitter (@KenReid_UTV)
"It's far from dead," Mr McGuinness told UTV. "I think, as a result of our discussions today, we're greatly heartened by what we've heard and we look forward to completing some work ourselves and the Taoiseach over the course of the coming days."
"It's fair to say it's back on track again," he added.
Mr Robinson explained Dublin's contribution would be "re-profiled rather than lost".
UTV's Political Editor Ken Reid says it doesn't mean the whole A5 project will be going ahead.
"My Irish Government sources are saying it was hard work but they feel that a contribution should be made.
"They could look at areas like the road from Derry to Strabane; perhaps that could be given priority," he said.
Joint financial support to dual the road at a cost of £850m was agreed as part of the St Andrew's Agreement in 2006, and construction was expected to start in 2012.
The planned 54-mile long carriageway from Londonderry to Aughnacloy was designed to slash travel times from Northern Ireland to the Republic.