Billy Kelleher
Ceist:159. Deputy Billy Kelleher asked the Minister for Business, Enterprise and Innovation the original duration envisaged for the cycle of the PRTLI Cycle 5 when announced in 2010. [21975/18]
Amharc ar fhreagraThursday, 17 May 2018
Ceisteanna (159)
Freagraí scríofa
The current Cycle of PRTLI (Cycle 5) was announced in 2010 and has involved exchequer expenditure of approximately €277m with a further €59m of private investment. Cycle 5 projects have now been completed and my Department is addressing the remaining payments associated with these awards. The 2018 allocation to PRTLI is €14.3m with a portion of this being used to part pay outstanding bills for PRTLI Cycle 5 projects.
The original duration envisaged for Cycle 5 when announced in 2010 was a minimum of 5 years and a maximum of 7 years. This is set out in the grant approval letters issued by the Higher Education Authority on behalf of my Department on 21 December 2010. An extract from these letters is copied below.
"Capital funding, from the Exchequer, will be forthcoming over the lifetime of PRTLI Cycle 5 (minimum timeframe 5 years, maximum 7 years) in line with the availability of funding as determined through the multi-annual Estimates and Budget process. Furthermore, the availability of Exchequer funding year on year will be subject to the provisions of the Department of Finance Capital Letter of Sanction 2011-2014 to the Department of Enterprise, Trade and Innovation."