STATE AID:TAOISEACH BRIAN Cowen has thanked the American Ireland Fund for its suggestion for the deferral of a €10 million State contribution to a fundraising initiative in light of the crisis in the public finances.
Although legislation to give effect to the Government contribution to the initiative was to be introduced in the current Oireachtas session, the fund has asked Mr Cowen not to proceed.
“The board of the American Ireland Fund wrote to the Taoiseach suggesting a deferral of a proposed Government contribution to their future work, in light of the current economic difficulties,” said the Government spokesman.
“The Taoiseach expressed his gratitude to the board for its considerate proposal and expressed the Government’s continued support for the fund’s very valuable work. He looks forward to meeting the board members when he next visits the US.”
Agreed in mid-2006, the Government contribution was to complement a drive to raise a further €20 million in contributions from philanthropists around the world. Businessman Sir Anthony O’Reilly made a personal contribution of €2 million at that time.
Kieran McLoughlin, president of the fund, said the essence of the Ireland Funds was to serve the national interest and to promote the social, cultural and economic development of Ireland.
“To seek payment of the gift now, with the public finances in such a weakened state, would run counter to that purpose. Therefore, our board decided unanimously to request a deferral of the gift from the Irish Government.”
In correspondence with the Taoiseach, fund chairman Loretta Brennan Glucksman is understood to have cited the financial challenges faced by the Government.
It is understood to have said there was a patriotic duty on people to do whatever they could to help steady the national finances at a time when they are in a perilous state. In this regard, she is understood to have said that it would be a betrayal of the fund’s intent to accept State money at this time.
In addition, she expressed appreciation for the fact that the Government gift was to be made in recognition of the hundreds of millions of dollars donated by the fund to numerous projects on both sides of the Border.
Established 27 years ago, the fund aims to promote social and cultural development throughout the island.
