Éamon Ó Cuív (Galway West, Fianna Fail)
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202. To ask the Minister for Finance if he intends to make funds available to the Western Development Commission, from the National Pension Reserve Fund, for investment in productive enterprise, in the western region, in view of their good record in this regard;; and if he will make a statement on the matter. [25883/13]

Michael Noonan (Limerick City, Fine Gael)
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The National Pensions Reserve Fund (NPRF) was established in 2001 under the National Pensions Reserve Fund Act 2000. As the Deputy will be aware, the Government has decided to establish the Ireland Strategic Investment Fund (ISIF) which will absorb the NPRF. Officials of my Department are currently preparing the legislation to create the ISIF with an Ireland-focused commercial investment mandate, designed to support economic activity and employment through the redeployment of NPRF resources. As at 31 March 2013, the value of the NPRF was €15.2 billion of which Directed Investments (investments in Irish financial institutions made for public policy reasons at the direction of the Minister for Finance) were valued at €8.8 billion and the Discretionary Portfolio, which remains the responsibility of the NPRF Commission and which will form the basis of the ISIF, was valued at €6.4 billion.