Oireachtas Joint and Select Committees

Tuesday, 10 February 2015

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

ECOFIN Briefings: Minister for Finance

6:30 pm

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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I cannot say yet. There is a double tap on the leveraging. Approximately €21 billion is being put in, and that is leveraged three times in the first instance by the EIB, which brings the amount to approximately €63 billion. Then that is leveraged five times to reach the figure of €315 billion. It is at the second stage of leveraging that the matching private sector funds would be involved. As this is Europe-wide, we would not necessarily be confined to Irish companies. If the projects are big enough, the matching funds could come from anywhere, except that they are private sector.