Oireachtas Joint and Select Committees

Thursday, 21 July 2016

Public Accounts Committee

2014 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 24 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2015

9:00 am

Mr. Conor O'Kelly:

Going back to the earlier question, the pipeline indicates that for the NTMA, there are many interesting projects and that we are having a very significant economic impact. The multiple we are getting on our money is two and a half times what the ISEF is investing because of the need to have co-investors. We are multiplying the €2 billion invested in the economy by a figure of 2.5. It has the additional impact an EIB fund would not necessarily have. Provided we are seeing this multiplier amd the pipeline of projects we think are viable, although we are conducting a review and will continue to review, I do not necessarily have a strong view. If we get to a point where we are not seeing the pipeline and it is drying up, we will have to review it in the light of the change. One might have to have that conversation.