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
John 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.
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