Some 417 projects were offered assistance by the International Fund for Ireland (IFI) in 1999, representing a direct investment of £26 million sterling, according to the fund's annual report.
In addition to this direct commitment, the IFI leveraged a further £52 million from other sources.
Some 3,000 jobs could be created through this £78 million investment, the report says. Since the fund was set up in 1986 it has committed £361 million to more than 4,400 projects across Northern Ireland and the Border counties, helping to create 36,000 jobs.
Government, private and community sources have matched IFI funding with a commitment of £722 million. Almost 90 per cent of this has been targeted at disadvantaged areas.
A breakdown of the 1999 funding assistance shows £8 million was offered under the IFI's Urban Development Programme to generate economic activity in town centres. A total of £5.8 million was allocated to the IFI's two enterprise companies to encourage business development. Those that benefited include Silicon Systems, Datacare, Software Group and Laserform in Drogheda.
Five projects were supported in the southern Border counties, providing some 120,000 sq ft of community owned workspace, housing businesses employing 220-230 full-time employees.
In Northern Ireland, nine community-led local enterprise agencies were assisted, providing 180,000 sq ft of workspace.
The fund contributed £500,000 to the Emerging Business Trust towards a £1 million equity fund to provide mezzanine and equity capital for start-up and expansions of small firms in disadvantaged areas.
The ASPIRE programme provided £300,000 towards a pilot micro-finance initiative to provide easy access to loans for small businesses, including retail and service sectors.
The IFI helped form several partnerships and strategic alliances in 1999, including 20 agreements between companies in the southern Border counties and North American companies, seven partnerships between companies in Northern Ireland and six alliances in Australia.
The report states the fund aimed to integrate the three priorities of creating economic opportunities, targeting disadvantage and need and promoting contact, dialogue and reconciliation.
Its annual report was presented at a reception yesterday to mark the graduation of several young people from the "Knowledge Through Enterprise for Youth" programme, attended by the Northern Secretary, Mr Peter Mandelson.
This £1 million programme provides enterprise training over three years for 900 young people from more than 50 schools.
