Kathleen Lynch (Cork North Central, Labour)
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Question 57: To ask the Tánaiste and Minister for Enterprise, Trade and Employment the number of companies that have applied to date for assistance under the €100 million Enterprise Stabilisation Fund; the number of applications accepted; the amount paid out to date in 2009; and if she will make a statement on the matter. [44600/09]

Mary Coughlan (Donegal South West, Fianna Fail)
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The Government approved an amount of €100 million in total for the Enterprise Stabilisation Fund for the years 2009 and 2010. €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 €56 million of which €50 million will be paid out this year. To date, €42 million has been paid to applicants under this fund. Enquiries have also been received from a further 100 companies. However, these enquiries have not as yet progressed to formal applications. 10 projects have not been successful and alternative options have been examined for these companies.