Martin Kenny (Sligo-Leitrim, Sinn Fein)
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471. To ask the Minister for Agriculture, Food and the Marine the number of Irish draw-downs under the seafood processing capital investment scheme; the number of persons who availed of the scheme in increments (details supplied) in 2014, 2015 and 2016, in tabular form; the total amount that could have been drawn by Ireland in each of these years; and if he will make a statement on the matter. [15124/17]

Michael Creed (Cork North West, Fine Gael)
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Ireland's €240 million European Maritime and Fisheries Fund (EMFF) Operational Programme 2014-2020 was adopted by the European Commission in December 2015 and officially launched in January 2016.  A Seafood Processing Capital Investment Scheme features in the Programme and was launched in 2016.  Prior to 2016, a somewhat similar scheme operated under the EFF Seafood Development Programme 2007-2013.  Both schemes are implemented by Bord Iascaigh Mhara and focus on incentivising private investment in seafood processing facilities to add value to fish raw material through increased processing and production of value added seafood products.  Food Wise 2025 aims to see the amount of fish sold in commodity form drop from 70% to below 50% through increased value added processing.

The table sets out the details requested concerning the number of projects funded in each year 2014 to 2016.  It also presents the available budget, total grants awarded and total grants paid out in those years. Experience of this scheme has been that there is very high demand for the available funds and these are generally close to fully committed.  However, some approved projects do not draw down the funds awarded to them for a variety of business reasons. My Department and BIM continually seek to adjust the terms and conditions of the scheme to maximise take-up of funds awarded.

Seafood Processing Capital Investment Grants

Number of Projects