Oireachtas Joint and Select Committees

Wednesday, 4 October 2023

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

EU Budgetary Proposals: Department of Finance

Photo of John McGuinnessJohn McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

This is just a general question. If the European Commission is raising money and loans from the markets and the IMF, and the World Bank is able to give favourable loans, is there not room for a commercial collaboration of sorts whereby money-raising entities come together and get this money at the most favourable rate, particularly when it is for such a cause as the rebuilding of the lives of people in Ukraine? No institution should be better off because of such a loan - that is the way I would look at it. Such institutions have a kind of corporate social responsibility to give the money. If there is an interest rate, it should be a low one and should be non-negotiable. That is the way it should be. I am raising the flag to ask if commercial entities out there are gaining on the back of the wretched situation in Ukraine.

Comments

No comments

Log in or join to post a public comment.