Aengus Ó Snodaigh
Question:248 Aengus Ó Snodaigh asked the Minister for Community, Rural and Gaeltacht Affairs when the Dormant Accounts Fund will be receiving applications for disbursement of its €30 million annual budget. [25728/04]
View answerWednesday, 20 October 2004
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Written answers
Decisions on the disbursement of funds from dormant accounts are currently a matter for the Dormant Accounts Fund Disbursements Board, an independent body established under the Dormant Accounts Acts. The board has engaged Area Development Management Ltd. to administer the initial round of funding on its behalf.
In June 2004, the Government announced an increase in the overall amount that the Dormant Accounts Fund Disbursements Board may spend from €30 million to €60 million under this initial round of funding. To date the board has approved 133 projects for funding totalling approximately €12.5 million. Over the coming months further allocations will be made by the board up to a total figure of €60 million. I understand that the board, at its meeting yesterday, considered a large number of further applications recommended for funding.