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Written answers

Tuesday, 21 February 2012

Department of Finance

National Asset Management Agency

9:00 pm

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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Question 171: To ask the Minister for Finance if he will provide a geographical analysis of the National Asset Management Agency's advances to developers, both approved advances and actual cash advances, to include Ireland, Northern Ireland and Britain; and if he will make a statement on the matter. [9536/12]

Photo of Michael NoonanMichael Noonan (Minister, Department of Finance; Limerick City, Fine Gael)
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The details requested by the Deputy are set out hereunder. New Advance Approvals of €980 million are split between:

* Ireland (41%),

* Northern Ireland (1%),

* Great Britain (50%),

* Other locations (8%).

Actual drawdown payments of €740 million are split between:

* Ireland (39%),

* Northern Ireland (1%),

* Great Britain (52%),

* Other locations (8%).

The €385 million in advances drawn down in respect of assets in Britain must be seen in the context of a total portfolio acquisition value of close to €11 billion, as well as asset sales of about €3 billion of loan and property assets, in that country.

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