The bulk of the £2.5m debt for the Jeanie Johnston replica famine ship project has been cleared with the announcement of a £2 million Government grant last night.
The announcement was made by the Minister for Justice, Mr O'Donoghue, and welcomed by Mr John Griffin, co-ordinator of the project, who said its future was now assured.
The original Jeanie Johnston sailed between Blennerville in Co Kerry and North America in the 1800s with thousands of emigrants.
As part of the Millennium project a replica ship was planned at a cost of £4 million, but the budget has overrun by £2.5 million.
Kerry County Council guaranteed a loan of £2 million to allow the project to continue, but yesterday's announcement means that the debts remaining now total only £500,000, which will be raised locally.