Seán Kyne (Galway West, Fine Gael) | Oireachtas source

I absolutely agree with the Deputy. The value of the current PEACE programme is circa€270 million, including the Irish and UK matching funding, with €229 million from the European Union and €40.5 million from the Irish and UK Governments. The latter figure is composed of €8.75 million from the Irish Government and €31.7 million from the UK Government. Some 85% is funded from the European Regional Development Fund. The funding is expected to be fully committed before the end of 2018. Obviously the long-term objective is to secure a successor programme beyond 2020.

In terms of engaging, agreement has been reached between the Department of Public Expenditure and Reform and the Department of Finance in Northern Ireland on a safeguard clause for funding agreements with programme beneficiaries in the light of Brexit. It will Brexit-proof letters of offer to the greatest extent possible and give programme beneficiaries assurances as to the legal and financial commitments into which they are entering, thus allowing them to plan for the future with confidence. Work is being undertaken by officials in my Department with officials from Northern Ireland to ensure there will be certainty as we move towards Brexit.

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