Michael McGrath (Cork South Central, Fianna Fail)
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218. To ask the Minister for Finance if he will provide in detail moneys transferred to date or committed to Irish Water as investments on behalf of the State; and if he will make a statement on the matter. [43205/14]

Michael Noonan (Limerick City, Fine Gael)
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In July 2013 Irish Water and the National Pensions Reserve Fund (NPRF) entered into a two year €250m bridging loan facility with Irish Water, which benefits from a State Guarantee. The NPRF Commission has recently agreed to an increase in the amount of this facility by €50m to €300m.

As part of Budget 2014, Government agreed that a €240 million equity investment would be made in Irish Water from the Exchequer. In accordance with this agreement, in July 2014 a capital contribution in an amount of €185 million was made and it is expected that a €54 million convertible debt instrument will be issued by Irish Water to the Minister for Finance shortly.

Irish Water also receives funding from the Local Government Fund (LGF).  The amount made available under the LGF to the end of October 2014 is €424 million.  The funding being made available to Irish Water from the LGF in 2014 will fund water related expenditures incurred heretofore by local authorities; these expenditures were previously met by local authorities from their own resources and general purpose grants.