Bishop Denis Brennan was speaking at the dioceses finance AGM this week where it was revealed that Ferns has now paid out more than €8m in 46 settlements to victims of clerical abusers in the diocese.
More than €5m of the €8,120,775 paid out to victims was covered by the Church's Stewardship Trust, a national fund established by the hierarchy to share the burden of abuse claims.
The fund is now exhausted.
The perpretrators paid €105,000, on an individual basis, into the compensation fund.
Bishop Brennan paid tribute to the other Irish dioceses ''who were never found wanting'' he said, ''when the Diocese of Ferns came forward with these claims''.
''The diocese would like to record its deep gratitude to the other dioceses in Ireland for the very tangible support they have shown in their continued assistance in the funding of claims through the Stewardship Trust,'' he said.
Bishop Brennan also revealed that treatment of offenders has amounted to €836,000, which he described as ''an investment in child protection in the long term''.
Referring to the current recession, Bishop Brennan encouraged people to ''be mindful of your neighbour''.
''As there is added pressure, there needs to be added care. This is our shared calling.
''This current turmoil will work out, but like the market place, it is a matter of belief and steady nerve. Such is a contribution with which we can assist,'' he said.
The Stewardship Trust was established in the 1990s when Church & General, who had provided the Church with insurance against claims of sexual abuse, began to become concerned about its exposure to claims.
The insurer negotiated a deal with the hierarchy and gave the Church a payment of just under £10m in settlement of the claims.
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(Source: IC)