November 23, 2022
Still not a “Red Cent” drawn by Ireland from the EU’s Recovery Fund – MEP MacManus

Still not a “Red Cent” drawn by Ireland from the EU’s Recovery Fund – MEP MacManus 

Sinn Féin MEP Chris MacManus has expressed his alarm that Ireland still hasn’t drawn down  a “red cent” from the EU’s Recovery Fund six months after he first raised concerns. He said an explanation is needed as to why, while other countries are benefiting hugely, Ireland  hasn’t even applied for a reimbursement.

MacManus said:

“It is shocking that the government have not got their act together to draw down our share of the EU’s Recovery and Resilience Fund. Ireland is now lumped in with countries like Poland and Hungary who haven’t been able to draw down any fund due to political issues.”

“Ireland’s allocation is modest but still amounts to almost €1bn. That’s €1bn that could be helping us along the way to a Green transition, helping our regions or boosting the Digital transition.  An explanation as to why Ireland is so tardy is well overdue.”

“For contrast, Spain has received more than €30bn and Italy almost as much. Even a country of similar size and wealth to Ireland, Denmark, has drawn down €200m so far. We are just not at the races it seems.”

“Ireland has also decided not to apply for any loans, as opposed to grants, under the Fund. As interest rates rise this option should be kept under consideration.”

“As I said in May, it is time for the government to get its act together and start drawing down what we are entitled to. Each day and month that passes without drawing down the funding means Ireland is missing out on sorely needed investment” ENDS

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