Dáil Éireann díospóireacht -
Tuesday, 23 Nov 1993

Vol. 436 No. 1

Written Answers. - Cohesion Fund.

Pat Cox

Ceist:

48 Mr. Cox asked the Minister for Finance if, in respect of Council Regulation 792/93 EC on the Cohesion Fund, an additional declaration has been added to this Regulation by Council Agreement No. 5496/1/93 regarding paragraph 1 of article 5 thereof which, may have the effect of substantially reducing the rate of grant assistance payable to revenue yielding projects in Ireland; and if he will make a statement on the matter.

Minister for Finance (Mr. B. Ahern)

Article 5 (1) pf Council Regulation (EEC) No. 792/93 of 30 March 1993 establishing a Cohesion Financial Instrument provides that the rate of assistance shall be between 80 and 85 per cent of public or similar expenditure as defined for the purposes of the Structural Funds. As in the case of the Structural Funds the effective rate of assistance is established in accordance with the nature of the operations to be undertaken.