Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

These sections allow for money to be paid out of the central Exchequer. This goes to the core of the legislation before us. We discussed this on Second Stage. There is agreement on the legislation, we waived pre-legislative scrutiny of it and we support it, but it is important, probably on Committee Stage, to tease out the exact implications. While we support this legislation, it is really important to fully understand the financial contribution the State is on the hook for. This relates in the first instance to guarantees concerning the MFA, but also the three institutions in which we have shareholdings, the implication being that repayments may not be made. The core of this is that there is an increased risk that Ukraine may not pay back or may not be in a position to pay back, given what Russia has done to its country, its economy and, most important, its citizens. This is about member states guaranteeing a portion of the grants. Can the Minister of State outline how much the Exchequer would be on the hook for in a worst-case scenario across each of the four programmes in which Ireland would be participating, either directly through the European Union through the MFA or through the EIB or other bodies in which we have shareholdings?

Will the Minister of State take us through that, please?