Oireachtas Joint and Select Committees

Thursday, 7 October 2021

Public Accounts Committee

2020 Annual Report of the Comptroller and Auditor General - Chapters 15 and 16
2019 Annual Report of the Comptroller and Auditor General - Chapter 16
National Treasury Management Agency - Financial Statements 2020

9:30 am

Mr. Conor O'Kelly:

I certainly hope so. That is the hope of the NTMA and the companies with which we are in dialogue. One can imagine from both points of view, that such emergency funding is not wanted. We do not necessarily want to be a long-term investor and they do not necessarily want us to be a long-term investor. Many of the instruments we have put together are designed to allow us to get repaid quickly and it is hoped we can be taken out of the equation. We can then reinvest that capital elsewhere, as needed by the economy. That is what the fund is designed to do. It is called an evergreen fund that continues to grow, produces returns and returns capital, and can then move into areas where there is less capital available and more State capital is required. That is the long-term objective.

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