Vol. 500 No. 4
173 Mr. Kenny asked the Minister for Agriculture and Food if he will give details of the western investment fund to be operated by the Western Development Commission; the role and remit of the organisation; the conditions of operation of the fund and the criteria for eligibility; and if he will make a statement on the matter. [4226/99]
The western investment fund was established under the Western Development Commission Act, 1998. The role and remit of the commission is set out in this Act.
This fund will be used by the Western Development Commission to promote and encourage investment and enterprise in the western region. It will provide funding in the form of long-term loans and equity for investment in a small number of strategically important enterprises.
The conditions and criteria applying to the operation of the fund are currently being drawn up by my Department in consultation with the Department of Finance.
