Dáil debates

Thursday, 22 November 2018

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions

NAMA Operations

10:50 am

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I will deal with each of the Deputy's points in turn. We expect the final major sale by NAMA to take place by the end of the year. The work it will do up to 2020 will have two elements. The first will involve the delivery of the Dublin docklands SDZ, in which it plays a considerable role, and the delivery of a residential programme there and at a number of other sites. The second piece of work will concern how it will de-risk various positions in order that, by 2020, its assets, be they financial or State assets, will comprise a very small percentage of the total number of exposures with which it will have to deal.

There is work under way on the work NAMA might do after the sale. We are discussing the issue with the agency. As the Deputy knows, we have an agreement with the Commission on the point at which the agency will come to an end. We will be delivering on that commitment, about which I want to be unambiguous.

I am increasingly conscious of the amount of expertise and skills we have built up in the NAMA organisation. I want to engage in dialogue with the agency to determine how we can retain them for the State, if we can, while still meeting the commitment made to the European Commission which we will be honouring.


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