Oireachtas Joint and Select Committees

Thursday, 7 October 2021

Public Accounts Committee

2020 Annual Report of the Comptroller and Auditor General - Chapters 15 and 16
2019 Annual Report of the Comptroller and Auditor General - Chapter 16
National Treasury Management Agency - Financial Statements 2020

9:30 am

Mr. Conor O'Kelly:

In 2020, from when the fund was set up in May or June, we deployed €400 million to companies affected by the pandemic. So far in 2021, we have committed an additional €400 million to companies impacted by the pandemic. The Minister called it a stabilisation and recovery fund for a reason. Companies were going to need stabilisation and the economic cycle was going to be different for different sectors. As the Deputy can imagine, we have been able to support some airlines, some businesses in the tourism and hospitality sector that have been hit and some regional and indigenous businesses to help them grow post pandemic. I can give the committee a list of all the investments we have made that are in the public domain. Some of them have not yet been completed. We have committed that investment capital but, as the Deputy can understand, some of them are commercial and sensitive. Of those we have completed, I am happy to make a full list available. In total, we have invested €800 million in commitments on behalf of that fund.