Seán Canney (Galway East, Independent) | Oireachtas source

I am pleased to join the committee in considering the 2019 Further Revised Estimate for the Department of Rural and Community Development. My responsibilities include oversight of the work of the Western Development Commission, functions related to the Department's input in regional development and rural broadband provision, oversight of a number of the funding schemes under the community programme, functions related to the Dormant Accounts Fund and oversight of the Charities Regulator. As the Minister, Deputy Ring, mentioned, Project Ireland 2040 places strong emphasis on balanced regional development which is essential if the country is to grow in a more sustainable way. I believe the Department has a strong role to play in ensuring these objectives are achieved.

The Western Development Commission has an important role in supporting development in the western region. It actively and successfully promotes the region as a great place in which to live, work and run a business. It manages the €32 million western investment fund which provides loan capital for small and medium-sized enterprises in the region. The Further Revised Estimate for 2019 will see the commission's funding increase from €1.5 million to €2 million. This will allow it to increase the impact of the western investment fund and enhance its contribution to the work of developing the Atlantic economic corridor, AEC. The AEC initiative aims to build an offering of scale along the west coast to drive economic development along the entire area. It is about getting all regions, local authority areas and communities along the western seaboard to work together to build on the region's strengths and attract investment to it as a whole.

In addition to the increased funding for the Western Development Commission, funding of €30,000 is being made available in 2019 to each of the ten local authorities along the AEC to co-fund an AEC officer in each local authority.