Written answers
Tuesday, 21 February 2012
Department of Finance
National Asset Management Agency
9:00 pm
Pearse 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]
Michael Noonan (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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