Pádraic McCormack (Galway West, Fine Gael)
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Question 58: To ask the Tánaiste and Minister for Enterprise, Trade and Employment the number of companies which have applied for funding from the enterprise stabilisation fund; the number of applications accepted and the number rejected; the amount paid out to date; and if she will make a statement on the matter. [27574/09]

Willie Penrose (Longford-Westmeath, Labour)
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Question 84: To ask the Tánaiste and Minister for Enterprise, Trade and Employment the amount of money paid out to date under the €100 million enterprise stabilisation fund; and if she will make a statement on the matter. [27423/09]

Mary Coughlan (Donegal South West, Fianna Fail)
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I propose to take Questions Nos. 58 and 84 together.

The Government approved a total of €100m for the Enterprise Stabilisation Fund to be disbursed over 2009 and 2010. €50m has been included in the estimate of my Department for this purpose in 2009. Under the scheme, Enterprise Ireland can give up to €500,000 to viable companies with robust business models that are facing difficulties as a result of the current economic environment. The fund will supply direct financial support to internationally trading enterprises that are investing in cost reduction or other measures to gain sales in overseas markets. This fund will also be a key factor in sustaining client company employment.

The provision of grant assistance to individual companies is a matter for the development agency or body concerned, and not one in which I have a direct function. However, I have been informed by Enterprise Ireland that to date €6.8 million has been approved for 19 projects, a further €22 million is under active negotiation with 35 companies nationwide and over 100 further enquiries have been received.