An investment programme in commercial ports covering the years 1989 to 1993 and costing approximately £69 million is under way at present. These investments are being funded in part by the EC through the Operational Programme on Peripherality. The programme is assisting projects at the ports of Cork, Dublin, Rosslare and Waterford and at seven other important local ports. The Operational Programme on Peripherality provides that harbour authorities can receive EC aid of up to 50 per cent of their approved project costs.
The current investment programme will help our key ports to offset the effects of Ireland's peripheral location so that our exporters and importers do not suffer competitive disadvantages in relation to their European counterparts. It will also ensure that Ireland has sufficient port facilities and services to meet the anticipated increase in trade following completion of the Single Market.
Before the end of 1993 I am hopeful that the Cohesion Fund as agreed at Maastricht will be operational and will provide additional funding for ports. In that context I will shortly be inviting the harbour authorities to prepare plans for further development in the context of the post Maastricht situation.
I also propose to review the fishery harbour development requirements in this context. Post-1993 I am hopeful that Structural/Cohesion Funds will support even greater investment in ports and harbours.