Oireachtas Joint and Select Committees

Thursday, 4 May 2017

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

Improving Investment Opportunities in the Wider Economy: Discussion

10:00 am

Mr. Andrew McDowell:

Yes. We have been exploring possibilities in that space. Those discussions are at a relatively early stage. At the end of the day, we need to see what the structure looks like before we can appraise it formally. For a fund, the key is that the tenure mix is such that the cashflows generated are sufficient to repay the debt and the equity that would be provided by, for example, the ISIF at a commercial rate. As the Deputy knows, the ISIF is required to seek a commercial rate of return under state aid rules. Regarding the fund's structure, the devil is in the detail in terms of ensuring that particular box is ticked.

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