Verona Murphy (Wexford, Independent) | Oireachtas source

The Minister for Finance said that a loan facility of up to €240 billion would be provided through the ISIF to the SBCI. The SBCI drew down €25 million of the facility in 2016. In 2017, another €25 million loan was converted into shares in the SBCI. These were issued to the Minister in accordance with the Act. In October 2020, the Minister subscribed for an additional €50 million shares at €1 each in SBCI. The subscription was paid for by an immediate conversion of the €50 million loan advanced by the ISIF. All shares issued by the SBCI are directly held by the Minister for Finance. That is correct. In December 2020, the balance of the available commitment under the ISIF-SBCI loan facility was €165 million. Why was a loan facility made available to the SBCI in October 2020?