Seán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

My note states that the commitment to the new arrangement is €2.4 billion. It is based on the exchange rate between the International Monetary Fund, IMF, and us. It operates drawing rights, which are known as a currency. There can be slight variations, so it is estimated at €2.4 billion. That is the maximum that we can lend to the IMF. There are three other sections dealing with grant contributions and not loans. They are poverty reduction and growth trust, the catastrophe containment and relief trust, and other prescribed trusts. There is a €50 million limit for each of those grant schemes, but there is provision in the legislation for the possibility of other prescribed trusts in due course, if the need arises, with maximum grant commitments under this legislation of up to €325 million, compared with €2.4 billion of loan agreements with the IMF.