Oireachtas Joint and Select Committees

Thursday, 5 February 2015

Public Accounts Committee

Vote 25 - Department of the Environment, Community and Local Government
Chapter 6 - Land Aggregation Scheme
Chapter 7 - Matters Arising from Audit of Vote 25 - Environment, Community and Local Government in Relation to Water Services

10:00 am

Mr. John McCarthy:

The €54 million convertible loan is a loan at this stage but it could be converted into a capital contribution depending as the financing strategy evolves. However, as matters stand, it is a loan but it could convert to a capital contribution.