Charlie McConalogue (Donegal North East, Fianna Fail)
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To ask the Minister for Public Expenditure and Reform the recent discussions he has had with the Troika in respect of the sale of State assets and the investment of proceeds from such sales; and if he will make a statement on the matter. [17860/13]

Brendan Howlin (Wexford, Labour)
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As the Deputy will be aware, I agreed with the Troika in May 2012 that all of the proceeds from asset disposals will be available, in the short term, to be used in one shape or another to support job creating initiatives in the economy. Half of the proceeds will be available to fund employment enhancing projects of a commercial nature. The other half, while destined eventually to pay-down debt, will, in the first instance, be constituted as a fund to underpin additional lending into Ireland, for example by the EIB, in support of further investment in job-creating initiatives.

Plans for the first round of disposal transactions are currently progressing, and I would expect to have the first proceeds available later this year to support the project preparation facility for the new PPP programme and additional commercial and publicly needed capital projects.