Written Answers. - EU Funding.

Martin Ferris

Question:

141 Mr. Ferris asked the Minister for Finance the amount of funding made available under the PEACE II programme which will have to be returned to the EU as a result of it not being allocated. [10647/03]

The Minister understands that all funds allocated to implementing bodies under the PEACE II programme in the Border counties have, or are in the course of being, allocated to projects. To date, good progress has been made in committing funds to projects and the Minister does not envisage any loss of funds from a failure to allocate to projects. However, it is important that projects use the funds allocated to them to avoid any potential loss arising from the application of the Structural Fund regulations. While expenditure targets may be difficult to achieve, expenditure patterns are closely monitored and the programme managed in such a manner as to ensure no, or minimal, loss of funds.