asked the Minister for Fisheries the amount of money available to BIM for the building of new boats and for loan purposes for secondhand boats for 1977.

The following funds are available to an Bord Iascaigh Mhara for capital purposes in 1977:

The capital development grant is used mainly to provide grants for the purchase of new fishing vessels but the amount available includes provision also for the capital improvement of existing vessels, for incentive grants and for capital investment in the board's boatyards and ice plants.

The advances from the Central fund and the board's own resources are used to provide loans for secondhand boats and smaller sized new boats, for the capital improvement of existing vessels, for fishing gear purchases and for capital investment in the boards own boatyards. It is not possible at this stage of the year to give a detailed breakdown of these grants and loans as between the various headings. The above funds will be supplemented by loan finance from Irish banks for larger new fishing vessels.

Will the Minister accept that applicants for secondhand boats are finding it very difficult to get the necessary finance from BIM and are in the position of having to go to the bank for loans on which they must pay higher rates of interest?

I am not satisfied in this regard but the question is one of loan finance from the Irish banks to BIM for this purpose. The process of scrutiny in relation to applications of all kinds is slow. I am making representations in an effort to have this process speeded up. The slowness existed before I came on the scene. It is a feature of the situation.

Will the Minister accept that the question is not one of slowness but of outright refusal as a result of there not being available sufficient moneys for secondhand boats? Will he accept, too, that the purchase of secondhand boats is a very necessary step in the expansion of our fishing fleet as young fishermen, of necessity, buy secondhand boats initially?

I agree that the purchase of a secondhand boat can be the very important first step for a young fisherman but I would not agree with the Deputy as to the reason for the delay in reaching decisions in regard to accommodating applicants. Any of us who has had occasion to make application to a bank for a loan has had to wait for a decision. I cannot interfere with that situation.

10.