Oireachtas Joint and Select Committees

Wednesday, 29 November 2023

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach

Finance (State Guarantees, International Financial Institution Funds and Miscellaneous Provisions) Bill 2023: Committee Stage

Photo of Jennifer Carroll MacNeillJennifer Carroll MacNeill (Dún Laoghaire, Fine Gael) | Oireachtas source

On the MFA+ contribution agreement, the Commission has agreed the signature process with 25 member states for the MFA 2 guarantee agreements guaranteeing €5.72 billion out of €6 billion of loans. Ireland and Denmark have to finalise the agreement. As of last month, 21 member states were on schedule to have contribution agreements finished, with France, Denmark, Italy, Ireland, Portugal, Hungary, Greece and Spain yet to complete their national procedures. This is part of the natural procedures. The overall tentative cost of funding for the MFA+ in 2024 under contribution agreements is €573 million with Ireland's share estimated at €13.9 million based on our 2.43% of GNI key. Once the final costs are fixed, the Commission will communicate the definitive amount per member state, which will then be stable for the years covered by the agreement.

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