Willie O'Dea (Limerick City, Fianna Fail)
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To ask the Minister for Finance his views on the possibility of the State drawing down increased funding from the European Investment Bank to fund investment in the economy; and if he will make a statement on the matter. [14051/13]

Michael Noonan (Limerick City, Fine Gael)
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There has been continued close engagement with the European Investment Bank (EIB) since President Werner Hoyer’s visit last July when he met with the Taoiseach as well as the Minister for Public Expenditure and Reform and myself. This visit led to the establishment of a Joint High Level Working Group between my Department and the EIB to enable close collaboration on projects aimed at expanding the Irish economy and supporting growth. Since President Hoyer’s visit, Bank Vice-President Tanasescu visited in November 2012, and the newly appointed Bank Vice-President Taylor visited in February 2013. Indeed, Ireland looks forward to its future engagement with the EIB in the context of the Informal Ecofin in April, and thereafter welcoming the EIB Management Committee to Dublin in late April 2013. In terms of funding, Ireland has secured a 23% increase in 2012 compared to 2011 i.e. €585m versus €475m.