State almost lost out on €280m from EU

IRELAND came close to losing almost €300 million in EU Structural Funds in 2003 because of long delays by Government departments in drawing down the funds.

The unspent money were part of the 1994-1999 Structural Funds Programme, worth some €5.8 billion. However, by January 2003, over three years after the programme came to an end, four Government departments had yet to spend a total of €280 million that had been allotted to them.

The EU imposed a final deadline of March 31 for submitting completed documentation for the funds, having encountered delays by several member states. The EU Commission warned that any state that missed the final deadline would forego the funds.