Grants from the Ireland Funds led to new jobs being created in the case of 50 per cent of the recipient projects, according to a survey. With 30 per cent of the projects, the jobs are full-time permanent positions.

Grants from the funds, now one of the largest conduits of philanthropic assistance from around the world into Ireland, were used to draw down further funding from other sources in 92 per cent of cases, according to the survey, commissioned by the Ireland Funds to evaluate its impact since its establishment in 1976.

Two-thirds of the grants made since 1976 were made in the Republic and the rest in Northern Ireland. The share of grants across the different regions of the Republic was similar to the distribution of population.

In 1997 total revenue raised by the organisation was £13.3 million, almost twice that raised the previous year.

The survey was carried out by a combined team consisting of an academic advisory committee and economic consultants Fitzpatrick Associates.

Prof Dermot McAleese of Trinity College, Dublin, who was on the advisory committee, said he was "impressed by the effect the funds are having across the island. The report demonstrates that the total impact of the funds exceeds the initial amount spent by a considerable margin and that the monies have been distributed widely across the island."