The tournament is now a reality after initial talks last year and last Thursday evening it was given the green light.
The President of the Scottish Football Association, George Peat said
"I'm delighted this has become a reality. This new event will celebrate the game and give our fans a great experience."
Football Association of Wales chief Peter Rees stated:
"We look forward to crossing swords with our two cousins across the Irish Sea, as well as Scotland in a friendly rivalry."
FAI chief executive John Delaney said
"This will be the first time Ireland has hosted a senior international tournament and the atmosphere around Dublin will be tremendous with all the travelling fans.
"With so many connections between the countries there are bragging rights at stake, and it's sure to grab the attention of people across the UK and Ireland."
Irish Football Association Howard Wells said
"This visionary tournament is exciting and provides all four countries with the opportunity of measuring progress in terms of international development.
"For supporters it also provides a real opportunity to see first-class competition live and within easy access."