Michael McGrath (Cork South Central, Fianna Fail)

Will the Minister clarify whether the strategic investment fund can begin to identify appropriate investment projects once the legislation has been enacted allowing it to access what is left in the National Pensions Reserve Fund, NPRF, or does it have to await until mid-2012 when the holding company is set up for NewERA? Essentially, when does the Minister expect the fund will be up and running and start identifying appropriate investments which could lead to job creation?

The Minister did not reply to my question on the strategic investment bank. When does he hope the fund will develop into a fully fledged bank, as pledged?

See this speech in context