Leo Varadkar (Dublin West, Fine Gael)
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Question 118: 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; the number rejected; the amount paid out to date; and if she will make a statement on the matter. [36524/09]

Mary Coughlan (Donegal South West, Fianna Fail)
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The Government has approved a total of €100 million for the Enterprise Stabilisation Fund for 2009 and 2010. Some €50 million has been included in the Estimate of my Department for this purpose in 2009. Under the scheme, Enterprise Ireland may provide 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 supplies direct financial support to internationally trading enterprises that are investing in cost reduction or other measures to gain sales in overseas markets. Enterprise Ireland has approved approximately €44.5 million for 101 projects, of which €26 million has been paid to applicants to date. Enquiries have also been received from a further 100 companies. However, these enquiries have not as yet progressed to formal applications.

To date, ten projects have not been successful and alternative options have been reviewed with the respective companies. Eligible applicants are assessed by Enterprise Ireland based on business plans that demonstrate the potential long-term viability of the company and its export growth potential. The level of funding is determined based on the specific needs of each company, taking into account the specifics of the business plan, the level of internal and external funding available to the company and the potential benefit to the Irish economy.