Simon Coveney (Cork South Central, Fine Gael) | Oireachtas source

There is a difference between what has been committed and what has actually been drawn down. We only draw down the funding when it is actually spent. We believe all this funding will be committed and allocated by the end of the year. What has actually been drawn down, that is, spent so far, is €34 million. However, to date, 29 individual projects totalling €233 million have been approved for support by the fund. In other words, they have effectively got approval to move ahead. Once they move ahead, the money will be drawn down. By and large, nearly all of that money will be drawn down next year.

See this speech in context