Oireachtas Joint and Select Committees

Wednesday, 4 October 2023

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

EU Budgetary Proposals: Department of Finance

Mr. Gary Tobin:

The United States of America; the United Kingdom; in general the EU has been providing a very substantial amount; the International Monetary Fund, IMF; and the World Bank. There can be different mechanisms for funding such as grants and loans. Of the €50 billion that is proposed under this mechanism, I believe that €17 billion is proposed in grants and €33 billion is proposed as loans. These would be very long-term loans.