Róisín Shortall (Dublin North West, Labour)
Link to this: Individually | In context

Question 140: To ask the Minister for Finance the projects that have been undertaken and partly or wholly funded by the National Development Finance Agency in respect of capital projects as indicated by him in launching the NDFA; the sums committed to each project; the Department or agency for which each project is being undertaken; the duration and likely completion date of each; and if he will make a statement on the matter. [29876/04]

Brian Cowen (Laois-Offaly, Fianna Fail)
Link to this: Individually | In context

The National Development Finance Agency, NDFA, was established in 2003 under the National Development Finance Agency Act 2002.

The role of the National Development Finance Agency is to advise State authorities on the optimum means of financing public investment projects in order to achieve value for money. State authorities, who are the decision-making bodies in regard to projects undertaken or to be undertaken, are obliged to seek the advice of the National Development Finance Agency in relation to capital projects or grouped projects valued in excess of €20 million. For projects valued under that amount, the advice of the agency may be sought but is not obligatory. In addition to its advisory role, the NDFA is empowered to advance moneys and to enter into other financial arrangements in respect of projects approved by any State authority. To date, the agency has not exercised the option of raising finance itself. However, it has arranged or endorsed third party private financing in a number of projects. Of those, financing has been provided from the following sources: private bank debt, European Investment Bank project loans and private equity. I am advised by the agency that since its establishment in 2003, more than 60 projects have been referred to it for advice.

Projects on which NDFA advice has been received, and in respect of which financial contracts have been closed, include: the Dundalk western bypass, the Kilcock-Kinnegad motorway and the Rathcormac-Fermoy bypass — all National Roads Authority projects — the Luas, Railway Procurement Agency, Fatima Mansions, Dublin City Council, the Metropolitan Area Broadband Network Management Company, the Department of Communications, Marine and Natural Resources, and a variety of projects for four local authorities, Cork City Council, Cork County Council, Kildare County Council and north Tipperary County Council.

Further details including duration, cost and likely completion dates of the various projects are a matter for the relevant State authorities responsible for procuring the projects.