Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

If we were to build a road between Cork and Limerick, the Department of Public Expenditure and Reform would have to put it down as a proposal. The NPRF would assess it on commercial grounds and if it were commercially viable, it could make the cut. If it were not, it would not make the cut. The initiation might be on the political policy side but the decision would be on commercial grounds, and the project would have to stand up to commercial analysis.

Within the existing statutory investment policy and in line with the ISIF announcement, the NPRF has undertaken a number of investments and initiatives under which NPRF capital would be invested on a commercial basis. There is a commitment to invest approximately €250 million in infrastructure, €118 million in public private partnership projects and finance of €500 million will be provided for the small and medium enterprise sector. It has entered into a collaborative relationship with Silicon Valley Bank on small and medium enterprise equity start-ups for the information technology industry. Additionally, the fund has been working closely with NewERA in respect of investment opportunities related to the commercial semi-State sector, and the NPRF is also in discussion with Irish Water with regard to the provision of a financing facility. This provides a flavour of the lead-in work, and when it is put on the statutory basis, the process will be more secure in its capacity to fund and leverage.

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