More than 4,800 projects have benefited from €187 million worth of funding from the Dormant Accounts Board in the last four years, it emerged today.
Organisations aiding those disadvantaged economically, socially, and educationally and people with disabilities have been supported by the monies left untouched in financial institutions.
DAB said to date, a total of 160,000 members of the target groups have benefited directly from the fund with a further 55,000 benefiting indirectly.
Empowering Communities by Tackling Disadvantage - a booklet highlighting the distribution of the first round of Dormant Accounts Funding in the years 2003 and 2005 - was launched by Minister of State Pat Carey and Community Affairs Minister Eamon O Cuiv.
During that time €63 million was committed to 521 projects. The Cherry Orchard Pony Club in West Dublin, the Caring Peninsula Project in South West Cork, and SAOL, an organisation that provides a response to cocaine addiction and suicide prevention, were among the groups assisted.
Funds also helped the construction of Bush Community Leisure Facility on the Cooley Peninsula. Michael Morley, Chairman of the Dormant Accounts Board, said the fund was an unique and enlightened decision on the part of the Irish Government, ensuring that society as a whole would benefit from funds that were otherwise lying idle in dormant accounts.
"The legislation specified that the unclaimed monies would be distributed to projects and programmes designed to alleviate poverty and social deprivation," he added. "It's another example of Ireland in the role of pioneer, an example that is now being followed by the UK."
Minister O Cuiv highlighted the continuing role of the Dormant Accounts Fund as a source of funding for good causes. "The programmes and schemes have been designed to support communities in achieving their full potential," he added.