Martin Cullen (Waterford, Fianna Fail)

That is a very distorted way of looking at the programme. Total expenditure of €120 million has gone in and this has leveraged approximately €378 million. Since 2002, some 57 new projects are being dealt with under the programme. This is a phenomenal number of direct pool projects. Some 45 projects have been allocated grant aid of which 34 have already been completed. I opened three of these in the past few weeks. The delivery of this programme has been ongoing at quite a pace.

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