Éamon Ó Cuív (Galway West, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

694. To ask the Minister for Rural and Community Development the amount drawn down to date under the new rural regeneration scheme; the projects that have received funding to date; the amount in each case; and if he will make a statement on the matter. [26545/19]

Michael Ring (Mayo, Fine Gael)
Link to this: Individually | In context | Oireachtas source

The first call for applications for the Rural Regeneration and Development Fund closed at the end of September 2019. €1 billion is committed to the Fund over a 10 year period to support rural economic development and help build strong communities. €315m is allocated to the Fund for 2019-2022.

In November 2018 and February 2019 I announced details of a total of 38 Category 1 projects (capital projects which were fully planning and consent ready) and 46 Category 2 projects (those needing further development to make them ready for delivery) which were successful under the first call from the Fund, providing €86m in support for projects worth a total of €117m.

Following the announcement of the 84 successful projects, my Department engaged with each lead party to complete required due diligence and enter into contractual arrangements whereby project payments are phased in line with delivery.

Significant progress is already being made on the 38 Category 1 projects with many completing procurement. A number of the projects have already met their first milestone and funding has been released.

To date, a total of €420,881.84 has been drawn down from the Fund. This number will significantly increase over the coming weeks and months as procurement phases end across the 84 projects and construction gets underway in Category 1 projects and detailed planning begins in Category 2 projects.

In conclusion, details are set out in the table below of the amounts paid out to date by my Department from the Fund. It should be noted that this does not include claims made but not yet paid by my Department.