Ms Niamh Ní Bhriain:

We could leverage it. At the moment, countries are doing their national plans. The total amount is €150 billion, but each country has to submit a maximum and a minimum amount. The minimum amount stands at about €129 billion. The maximum amount is at approximately €200 billion. When all the national plans are finalised, it will come in at about €150 billion. It could be that Ireland is late to the game and we just did not get ourselves together on time, thankfully, to actually draw down these loans. There was certainly an intention to do so.

The European Defence Fund, which is completely separate, amounts to €8 billion. This fund is for weapons research and development rather than direct procurement, although it is highly problematic as well. I was looking at it the other day. There are Irish participants in that. It is not the Irish Government. University College Cork has a project that is getting funding through the European Defence Fund, and there are a few other Irish entities there. It might be that we were late to the game and did not organise ourselves on time. However, there was definitely an intention on the part of Ireland to participate. Who knows? Maybe we will if there is another round. It has been stated that this is an exception, a once-off and a temporary measure. However, that is what we discussed when I was here 18 months ago - I am back again. It is quite likely. Ireland has given this the green light. They said they back it, so it could happen.