I agree with the Minister it was a major achievement to get a special fund. Will he not agree with me that the real problem with regard to that kind of funding is the Department of Finance who get their hands on the money? The problem is that it is not actually related to the development for which people have applied. Further, will the Minister not agree that in some instances money is so received by the Department of Finance at a rate of interest much less than they charge the individual Departments when they give it to them?

That is a separate question.

The Deputy will know that the arrangement regarding the application of European Regional Development Fund assistance has been in existence for several years, including when the Deputy was a Minister.

The question I asked was if it would be possible for the Minister as a member of European Ministers of Transport to have the new fund when it is formed organised in such a way that specific disbursements would relate to specific projects.

I think the Deputy is confusing the European Regional Development Fund——

No, I am not. The Minister mentioned that.

The transport infrastructural fund will apply to specific projects. We have already had two transport projects approved, namely, the Shankill by-pass and the Wexford by-pass. They have been approved for a grant under that fund and we have got about £4 million.

Did they go to Environment?

Yes. As far as we are concerned the European Regional Development Fund operates differently. As the Deputy knows, applications are made by the Department of Finance under a longstanding arrangement and the funds come to the Exchequer.

I know. That is the problem.