Oireachtas Joint and Select Committees

Thursday, 3 March 2022

Public Accounts Committee

2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Home Building Finance Ireland - Financial Statements 2020

9:30 am

Photo of Imelda MunsterImelda Munster (Louth, Sinn Fein) | Oireachtas source

I want to come back to the momentum fund. Ms Deering said it was set up in case funding from the mainstream banks would be constrained during Covid. At the same time, HBFI had no checks and balances when the big developers were applying for funding. It did not ask for a single sheet of paper that would show they had already been refused or had any difficulty whatsoever in getting the funding through the normal channels.

Ms Deering said HBFI had decided to set up the momentum fund and then brought the proposal to the Minister. In this regard, I have a question on which I want a very clear response on the record. In bringing about the setting up of the fund, was there any lobbying of any description from anybody?

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