Darragh O'Brien (Dublin Fingal, Fianna Fail)
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360. To ask the Minister for Housing, Planning, and Local Government when the special purpose vehicle research project for the investment of credit union funds in social housing will be completed; and if he will make a statement on the matter. [29952/18]

Eoghan Murphy (Dublin Bay South, Fine Gael)
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In line with the commitments in the Rebuilding Ireland Action Plan for Housing and Homelessness, an Innovation Fund was established to assist Approved Housing Bodies (AHBs) to develop structures, policies and new funding mechanisms. One of the projects being funded, which is being undertaken by the Irish Council for Social Housing, is the development of a Special Purpose Vehicle to facilitate investment into the AHB sector by private investors, including the Credit Union movement. The project was approved in May last year and is being undertaken by the ICSH in 3 phases. The first two phases have been completed and the third phase is due to be completed by the end of September 2018.

In respect of the development of specific SPVs by the credit unions to enable them to make investments in the sector, it is a matter for the credit unions themselves to make the necessary arrangements.