I thank the Deputy for the question. The rural regeneration and development fund has to date approved funding of €252 million for 164 projects nationwide costing over €343 million. Projects initially approved for funding in principle progress through a comprehensive due diligence process before final confirmation of funding is provided by my Department. At each stage of this approval process, the project is reviewed by my Department to ensure it continues to meet its stated objectives, including financial sustainability. This review includes an assessment by an independent quantity surveyor to ensure all costs and contingencies have been included by the lead party.
However, any such case must be supported by a detailed justification from the lead party setting out the reasons for the increased cost, detailing exactly where the additional costs arose and outlining what was attributable to construction inflation. As the project would have been approved based upon the original budget, a full value for money review with an updated business plan must be provided by the lead party before any additional funding could be considered.