Oireachtas Joint and Select Committees
Wednesday, 22 November 2023
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
General Scheme of the Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2023: Discussion
Mr. Oliver Gilvarry:
The reason for that is we were aiming to link the ICNF into what is basically a year's worth. The fund would get to a size that it is basically equivalent to one year's worth of capital expenditure as per the NDP. It is roughly 5% of GNI*. That is why we went with the scenario of €2 billion per year to go into that to build it up that way.