In accordance with the provisions of the Residential Institutions Statutory Fund Act 2012 cash contributions offered voluntarily by religious congregations in the aftermath of the publication of the report of the Commission to Inquire into Child Abuse (the "Ryan Report") are available to meet costs incurred by Caranua (the Residential Institutions Statutory Fund) in supporting former residents and in meeting that organisation’s operational costs and costs associated with the independent appeals process. Under the 2012 Act the maximum amount of contributions (excluding additional interest) that may be made available to Caranua is €110 million.
To date a total of €105 million, comprising contributions of some €103.6 million plus added interest of €1.382 million, has been received by my Department and placed in an investment account established by the National Treasury Management Agency. This funding is available to Caranua.
A further €6.4 million in cash contributions is thus required to achieve the maximum amount of €110 million referred to above. The balance of the voluntary cash contribution offered by the Congregation of Christian Brothers, amounting to €6.8 million, is expected to be received over the coming months.