Written answers
Tuesday, 30 June 2009
Department of Community, Rural and Gaeltacht Affairs
Departmental Funding
11:00 pm
Michael Ring (Mayo, Fine Gael)
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Question 329: To ask the Minister for Community, Rural and Gaeltacht Affairs the breakdown of the loans that were given out by a statutory body (details supplied) on a county basis from 1 January 2008 to June 2009 in tabular form; and the persons to whom the loans were awarded. [25905/09]
Éamon Ó Cuív (Galway West, Fianna Fail)
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The Western Development Commission (WDC) promotes economic and social development in Counties Clare, Donegal, Galway, Leitrim, Mayo, Roscommon and Sligo. It is also responsible for the management and operation of the Western Investment Fund (WIF).
The WIF provides risk capital by way of equity and loans on a commercial basis to projects and businesses that meet the WDC's investment criteria.
Investments under the WIF for the period 1/1/08 to 25/6/09 are set out below.
| WDC — investments under the WIF for the period 1/1/08 to 25/6/09 | |||
| Loans Disbursed by WDC between 1/1/2008—25/6/2009 | |||
| Project | County | Investment Type | Disbursal Amount |
| € | |||
| Brogans Bakery | Galway | Loan | 700,000 |
| Maoiniu Mara Teoranta | Galway | Loan | 450,000 |
| Equity Investments by WDC between 1/1/2008—25/6/2009 | |||
| Project | Location | Investment Type | Disbursal Amount |
| € | |||
| FMC Tech Ltd | Clare | Equity | 300,000 |
| Crospon Ltd | Galway | Equity | 500,000 |
| Lightstorm Networks | Galway | Equity | 219,314 |
| Marvao Medical Devices Ltd | Galway | Equity | 400,000 |
| Neutekbio | Galway | Equity | 50,000 |
| Vysera Biomedical Limited | Galway | Equity | 400,000 |
| Zerusa | Galway | Equity | 200,000 |
| Vivasure Ltd | Galway | Equity | 41,828 |
| Almotech Ltd | Galway | Equity | 365,000 |
| Meiticheol Teo | Galway | Equity | 100,000 |
| Cambus Teo | Galway | Equity | 150,000 |
| Halo Medical Ltd | Galway | Equity | 175,000 |
| Cairn International Trade Centre | Mayo | Equity | 1,000,000 |
| Heatsolve Ltd | Mayo | Equity | 600,000 |
| Selc Ireland Ltd | Mayo | Equity | 487,000 |
| Innovative Science Ltd | Sligo | Equity | 200,000 |
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