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

The strategic investment fund which will be underpinned by statute early next year is operational under letters of comfort I have provided. The fund is providing moneys and supporting, on a joint partnership basis, various funds for SMEs. It is involved in investment in the economy. The big difference between a strategic investment fund and a strategic investment bank is that if it is formulated under licence as a bank, it will be able to raise money on the markets, whereas a strategic investment fund deals with funds available to it at present. We are not ruling it out by any means and will see how it works. The best known and most effective strategic investment bank is the German bank to which I referred.

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