Paul Connaughton
Question:81 Mr. Connaughton asked the Minister for Agriculture and Food when funding will be made available to the Western Development Commission; and the amount of money made available to successful projects in 1999. [6968/99]
Written Answers. - Western Development Commission.
The western investment fund is being established under the Western Development Commission Act, 1998.
As the Deputy is aware, the western development commission, which was set up on a statutory basis on 1 February 1999 last, will administer the fund. An initial provision of £5 million for the fund is included in the vote for my Department in 1999.
A requirement of the legislation is that the terms and conditions for state aid from the fund must be set by the commission with my agreement and that of the Minister for Finance. Pending the establishment of the new commission, and its taking a decision on how the fund would be utilised, it was not possible to finalise this any earlier. The matter is being pursued by the commission with my Department and I expect that it can be satisfactorily concluded soon.
In addition, being financed by the Exchequer, it is necessary to obtain the clearance of the EU Commission for the operation of the fund as a State aid. The western development commission is already in consultation with my Department on the preparation of the necessary submission to the EU Commission in this case.
I am aware of the Western Development Commission's concern to have the fund in operation quickly and I am doing all that I can to have the matter expedited.