asked the Minister for Finance if he will confirm that only 70 per cent of the funds available to Ireland from the EC are being taken up as quoted in a media report (details supplied).
Written Answers. - EC Funds.
107.
There is of necessity a time lag between the approval of European Community grants and the translation of those grants into actual payments. Grants are due for payment as the investment which is the subject of the grant proceeds. The final payment of the Community grant is not made until such time as the investment which is the subject of the grant is completed.
At the end of December 1985 76 per cent of grants approved for Ireland from the European Community structural funds were translated into payments. When the investments which are the subject of those European Community grants are completed the total amount of the grants will have been translated into payments.