Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

There is no question that ISIF must be prudent, but I highlight again the fact that it has €6.6 billion invested overseas. Gradually, that will be wound down and invested in Ireland. While it is an important feature of the fund that it leverages private sector investment, the key challenges we face as a country are in housing, broadband, the road network and public transport where the fund has not done a great deal in terms of its portfolio. ISIF goes after a lot of niche investments, leveraging the private sector. I would like to see more mainstream investments which are visible and which enhance the productive capacity of the economy. Many of these areas of investment can meet the terms of the commercial mandate. I look forward to the investment strategy review and I would appreciate it if the Minister would bear the points I have made in mind when he considers and addresses it.

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