Brian Stanley (Laois-Offaly, Sinn Fein)
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Question 81: To ask the Minister for Public Expenditure and Reform the amount of the National Pensions Reserve Fund that is to be used for investment in key areas of the economy as proposed in the Department's Infrastructure and Capital Investment 2012-2016: Medium Term Exchequer Framework. [3804/12]

Brendan Howlin (Wexford, Labour)
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The Government's "Infrastructure and Capital Investment 2012 to 2016" report, which was published on 10 November 2011, sets out the €17 billion Exchequer capital investment framework for the coming five year period. In addition, as signalled in the plan, there will be capital investment through the Strategic Investment Fund (SIF), the establishment of which was announced by the Government in September 2011.

The SIF will, following appropriate legislative changes to the investment policy of the National Pensions Reserve Fund (NPRF), channel commercial investment from the NPRF towards productive investment in the Irish economy. As well as money from the NPRF, the Fund will seek matching commercial investment from private investors and target investment in areas of strategic significance to the future of the Irish economy. It will comprise a series of sub-funds targeted at commercial investment in critical areas of the Irish economy, including infrastructure, venture capital and the provision of long-term capital for SMEs. The NPRF will take a lead role in the development and implementation of each sub-fund.

In November 2011, the NPRF announced a commitment of €250 million to a new Irish infrastructure investment fund which is seeking up to €1 billion from institutional investors in Ireland and overseas and which will invest in infrastructure assets in Ireland, including assets designated for disposal by the Government and commercial State enterprises and also new infrastructure projects.