West of Ireland investment fund more than doubles in value since 2001

  • 📰 IrishTimes
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 98%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Allocated €31.7m by the Government in 2001, the public investment vehicle is now worth €73m

Allocated €31.7 million from the exchequer in 2001, over €61 million has since been invested in regional companiesWestern Development Commission chief executive Tomás Ó Síocháin, Minister for Rural and Community Development, Heather Humphreys and Western Investment Fund manager Gillian Buckley.

As well as seed and venture capital, the fund provides loan financing to companies and community projects across Donegal, Sligo, Leitrim, Roscommon, Mayo, Galway and Clare. It co-invests with private sector investors on a commercial basis and all returns are reinvested back into the region, the WDC said in a statement on Monday.

Indecon said the fund, which has been self financing since 2010, has delivered an overall €3.3 billion economic boost to the Irish economy over its lifetime. The research suggests that at least 5,300 jobs have been supported by companies backed by the fund, which have also generated an estimated €1.6 billion in exports and €276 million in tax revenues for the State.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

IrishTimes FUNDS; taxpayers money, forcibly taken for the notoriety and political gain of whatever govt is sitting.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in CA

Canada Canada Latest News, Canada Canada Headlines