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

The Future Ireland Fund and the Infrastructure, Climate and Nature Fund were established in 2024 following the passage of the Future Ireland Fund and Infrastructure, Climate and Nature Fund Act through the Oireachtas. The majority of the Act commenced on 30 July 2024. The funds seek to future-proof the public finances and deal with future challenges such as our country growing older, decarbonisation and the use of new technologies.

As the Future Ireland Fund is a long-term savings fund, drawdowns from the fund will only begin from 2041 onwards. The purpose of Infrastructure, Climate and Nature Fund is to support the economy in times of exceptional need and support the funding of designated environmental projects. Funding can be drawn down from 2026. The drawing down of this fund is managed by the Department of public expenditure.

Both funds are to be capitalised by annual transfers from the Exchequer - 0.8% of GDP per annum from 2024 onwards in the case of the Future Ireland Fund and €2 billion per annum from 2025 onwards in the case of the Infrastructure, Climate and Nature Fund. Over €10 billion has already been transferred to the funds in 2024. This year's transfer to the funds was announced during budget 2025. By the end of this year, the Future Ireland Fund will hold approximately €12.5 billion and the Infrastructure, Climate and Nature Fund will have €4 billion - a total of €16.5 billion.

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