Simon Harris (Wicklow, Fine Gael) | Oireachtas source

I hope it is doing well. We are in agreement that there is a need for people to promote the fact that the ISIF is in place and available to those with commercial propositions. It is open for business. As for when the money will be available, as the Deputy is aware, the sale has been concluded. Consequently, it is a matter for the Houses of the Oireachtas to pass a resolution, the first stage in the process being bringing the resolution coming before the joint committee today. I understand it will then go before the Dáil and the Seanad next week. Many of the issues raised by the Deputy are integral to the assessment the ISIF will make of a commercial proposition. While there is no definitive upper cap, obviously, it will be obliged to make a commercial decision. I do not wish to repeat myself, but the fund is a sub-portfolio of the ISIF. It will be managed and controlled by the ISIF in the same way as the main ISIF portfolio is managed and investment decisions will be a matter for the investment committee which has responsibility to make decisions within the terms of the ISIF investment strategy which was approved by the board of the National Treasury Management Agency. The investment criteria used in assessing investment opportunities will be entirely consistent with the mandate which is to invest on a commercial basis in a manner designed to support economic activity and employment in the State. The success of the fund will be measured both in terms of the investment returns and economic impact achieved. This connectivity fund will be long-term. Its deployment will be on a phased basis, but these are matters that will be assessed by the ISIF.