Pearse Doherty (Donegal South West, Sinn Fein)
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I am not entirely clear on what is envisaged under this section, specifically in respect of NewERA. I agree absolutely that a substantial injection into social housing is required, particularly from the Ireland Strategic Investment Fund. However, NewERA and the ISIF are two different things. It has been suggested the National Pensions Reserve Fund which will be this new fund will invest in water services, energy projects, telecommunications, forestry and so on. My understanding, however, is that this will not happen. Under this legislation, as I understand it, NewERA will provide its expertise to develop proposals for investment. Moreover, this investment may and most likely will be private sector investment as opposed to public funding, whether from the Exchequer or the ISIF. Will the Minister of State clarify whether this is the case?