Tuesday, 2 July 2019

Questions (624)

Dara Calleary

Question:

624. Deputy Dara Calleary asked the Minister for Rural and Community Development the current and capital allocations in each of the years 2016 to 2019 to the Western Development Commission in tabular form. [27600/19]

View answer

Written answers (Question to Rural)

The Western Development Commission (WDC) was established on a statutory footing under the Western Development Commission Act, 1998. The main aim of the Commission is to promote, foster and encourage economic and social development in the Western Region, covering counties Donegal, Leitrim, Sligo, Mayo, Roscommon, Galway and Clare.

The Exchequer allocations for the Western Development Commission in each of the four years from 2016 to 2019 inclusive are detailed in Table 1. The figures reflect the published Revised Estimates Volume for the years in question.

In addition to its Exchequer allocation, the WDC manages the Western Investment Fund (WIF) which provides loans and equity to businesses and local communities in the West. The WDC currently has €48 million available for investment and lending under this Fund.

An additional €500,000 was allocated to the WDC this year to enable the Commission to appoint extra resources to maximize the use of the WIF and to support the co-ordination of the Atlantic Economic Corridor initiative. This additional allocation reflects the important and expanding role of the WDC in contributing to the Government's regional policy objectives under Project Ireland 2040, and in progressing the economic and social development of the Western region in particular.

Table 1 – REV allocations 2016-2018, Western Development Commission

Year

Current

€000

Capital

€000

Total€000

2016

1,488

1,000

2,488

2017

1,495

1,000

2,495

2018

1,516

-

1,516

2019

2,028

-

2,028