Oireachtas Joint and Select Committees
Tuesday, 8 December 2015
Joint Oireachtas Committee on Environment, Culture and the Gaeltacht
General Scheme of the Housing (Regulation of Approved Housing Bodies) Bill 2015: Discussion
2:15 pm
Mr. Barry O'Leary:
No, we just raise the money independently. If we get money from the EIB, and we got a €150 million facility with it at the beginning of this year, EIB will only facilitate 50% of a scheme. If there is a scheme costing €10 million, it will cough up €5 million and we must put in the other €5 million or we will get it from another source. Once the EIB offered the €150 million, another bank in Europe, the Council of Europe Development Bank, offered another €150 million facility, so it will do the 50%. Between our resources and the two sets of €150 million, there is more than €500 million available at present. Given what people are seeking, that is more than enough to cover us for the next two or three years.
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