Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

The strategic investment fund is obliged by law to lend commercially and get a commercial return on its lending. The base rate is 10% but in individual projects the rate would be higher than that. In addition, if one has a successful project and allows for the fact that there is participation in profitability because they are providing equity, it grosses out at around the figure the Senator mentioned. However, we will keep it under review. The decision will be for the fund itself and for the NTMA ultimately, but they know the situation and they are not in the business of trying to make enormous profits. They simply want to lend commercially to provide the kind of credit facilities that are necessary and we now have.