Oireachtas Joint and Select Committees
Wednesday, 24 May 2023
Committee on Budgetary Oversight
Sovereign Wealth Funds: Discussion
Mr. Nick Ashmore:
We have invested in housing developments and some of those houses have ended up as social housing. Approximately 1,500 of the approximately 11,200 homes we have helped to finance are social homes. They came through Part V or through the developments ultimately being sold as social housing, perhaps bought by an approved housing body, AHB, or some similar body. The ISIF was also directed over time to provide some of the initial capital of the Land Development Agency. The initial equity for the LDA was withdrawn from the ISIF and injected into the LDA to enable it to commence operations. We are actively funding that and it is drawing it down right now. However, that was under the direction of the Minister. It is not a commercial activity per se.
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