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Dáil Éireann debate -
Tuesday, 2 Feb 1999

Vol. 499 No. 3

Written Answers - County Enterprise Boards.

Michael Joe Cosgrave

Question:

131 Mr. Cosgrave asked the Tánaiste and Minister for Enterprise, Trade and Employment if she will undertake to have letters of guarantee issued to each county enterprise board in order that they can negotiate overdraft facilities with their respective banks to honour commitments entered into and to continue the present work with enterprises who are either in a pre-start up situation or in receipt of post-start up support such as mentoring, etc., in view of the cash flow difficulties facing some boards this spring. [2775/99]

I refer the Deputy to my reply on the Adjournment on 27 January 1999 regarding the funding of the 35 city and county enterprise boards when I clearly indicated that sufficient Exchequer moneys would be available to enable the boards to meet their administrative expenses and maturing contractual grant and other financial obligations during the first quarter and throughout 1999. I should add that enterprise boards are prohibited from borrowing by virtue of section 10(5)(b) of the Industrial Development Act, 1995.

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