Olivia Mitchell (Dublin South, Fine Gael)
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Question 186: To ask the Minister for Finance the public projects which have been funded using the National Pensions Reserve Fund to date; the name, location, cost and amount invested by the National Treasury Management Agency in each project; and if he will make a statement on the matter. [16920/05]

Brian Cowen (Laois-Offaly, Fianna Fail)
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As the Deputy will be aware, the National Pensions Reserve Fund Commission is independent of Government in the exercise of its functions. It controls and manages the fund with discretionary authority to determine and implement the fund's investment strategy. This investment strategy is based on a commercial investment mandate with the objective of securing the optimal return over the long term subject to prudent risk management.

I understand that in 2003 the commission made an initial allocation of €200 million for investment in public private partnerships in Ireland and will increase this allocation should suitable opportunities arise. While steps have been taken to advance the decision to invest in public private partnerships in Ireland, to date no moneys have been invested in any such project.