Seanad debates

Tuesday, 17 December 2002

National Development Finance Agency Bill, 2002: Second Stage.

 

The financial package was undoubtedly quite expensive. When the NDFA is set up, the projects will be decided upon by the line Minister in the relevant Department or by an appropriate accounting officer under the equivalent delegated sanction. They will manage the project and use the expertise in their Department to decide what should be done. They will then be obliged to consult the NDFA and offer a financial arrangement. Having obtained the agency's advice, they will not be obliged to accept it. The NDFA may say it will be able to finance a project better than anyone else and that it will do it in a certain way. It will then be the responsibility of the line Minister and his or her Department to decide what route to take.

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