Nearly 17,000 jobs and 4,000 new businesses have been created under the EU's programme for Local Urban and Rural Development in the Republic since 1994.
The figures were announced at a mid-term review of the programme in Dublin yesterday. The programme is designed to support the development of local communities. It is targeted at enterprises in disadvantaged and designated areas.
A spokesperson for the monitoring committee says that the programme, which will invest £330 million in local initiatives by the end of 1999, is performing much better than anticipated.
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