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

That is the question I was asked and I am giving the Deputy the answer. Since 1 March they are allowed to do this and they have spent the year working on the process to do it. One of the credit union bodies, the Credit Union Development Association, is ready, able and available to invest money through approved housing bodies if it wants, and it has been engaged with that sector. That process is there and that is as far as we can bring it, to be honest. The sector overall is working with the Irish Council for Social Housing to develop another SPV and there will probably be a range of vehicles to facilitate different types of investment. That work should be completed in October. We are not in a position, and we are not allowed, to design that SPV for them but we are trying to encourage the process to make it happen because we would like it to happen. It will come down to approved housing bodies deciding who they want to take their money from. That is where it is at.

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