Written answers

Wednesday, 10 November 2010

9:00 pm

Photo of Joe CostelloJoe Costello (Dublin Central, Labour)
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Question 151: To ask the Minister for Finance the reason the National Assets Management Agency has been lending money to developers whose assets were non-performing (details supplied); and if he will make a statement on the matter. [42023/10]

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Dublin West, Fianna Fail)
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I do not propose to comment on the circumstances of individual debtors. NAMA is currently engaging with the largest debtors whose loans have been acquired from the participating institutions. The draft business plans of these debtors are being subjected to rigorous review and only where a debtor can demonstrate viability will that engagement continue. In a number of cases, NAMA informs me that it will advance funds to enable projects to be brought to completion but this will only be done where it makes commercial sense to do so.

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