Damien English (Meath West, Fine Gael) | Oireachtas source

Someone is feeding the Deputy information. That is grand, but whoever that is is obviously involved in the process, and that process is meant to find a mechanism for whoever that is to invest money. If that process does not succeed, then an SPV will not be announced in October, as allowing investment is what it is trying to do.

There are two bodies involved - the ILCU and CUDA. We have engaged with both. My understanding is that CUDA has an SPV option, is ready to invest and is open for business to engage with AHBs. That work has happened. The second piece of work is another model to achieve the same thing, and I am led to believe that it will be completed in October. The Deputy seems to know something about it as well. Something will have gone wrong if credit unions cannot invest in it, as it will have been set up in conjunction with them for their investment. We want this to happen. I can be no clearer than that. We have gone out of our way to try to make this happen.

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