Oireachtas Joint and Select Committees
Thursday, 12 July 2018
Public Accounts Committee
2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
9:00 am
Mr. Eoin Dorgan:
I am not sure of the exact time involved. Following on from the Oireachtas committee on the future of water policy, the Government decided that the commercial loans would be refinanced through Exchequer debt. The ISIF is one element of it and there is a further €800 million in commercial loans, on which work is ongoing. Within the coming six to nine months we are working on refinancing it through State debt for which the NTMA will provide. Irish Water will then be borrowing from State sources, rather than from commercial lenders and the ISIF.
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