Wednesday, 13 March 2019
Department of Finance
121. To ask the Minister for Finance the funding his Department or agencies under the remit of his Department have provided to projects in County Galway in each of the years 2016 to 2018 and to date in 2019, respectively; if the funding has been allocated; if it has been drawn down in each case; and if he will make a statement on the matter. [12510/19]
122. To ask the Minister for Finance the funding that his Department or agencies under the remit of his Department have provided to projects in County Roscommon in each of the years 2016 to 2018 and to date in 2019, respectively; if the funding has been allocated; if it has been drawn down in each case; and if he will make a statement on the matter. [12527/19]
I propose to take Questions Nos. 121 and 122 together.
My Department does not make investments from its Vote other than the routine acquisition of IT equipment and systems and certain premises expenses relating to the buildings it occupies.
Therefore, there was no funding provided by my Department to projects in County Galway and County Roscommon for the period in question.
There are eighteen bodies under the aegis of my Department. I am informed that two of these bodies, the Strategic Banking Corporation of Ireland (SBCI) and the Social Finance Foundation (SFF), have provided funding in the form of commercial loans in County Galway and County Roscommon in the years 2016 to 2018 and to date 2019. The SBCI provides loan funding to Small and Medium Sized Enterprises. The SFF was established to address the needs of community organisations and social enterprises for loan funding which was difficult to obtain from mainstream financial institutions; it acts as a wholesale funder, providing funding to its lending partners Clann Credo and Community Finance Ireland. Details of the loan funding provided by these two bodies, all of which has been allocated, are set out in the table attached. The majority of the funding has been drawn down, with partial draw down indicated.
The National Treasury Management Agency (NTMA) has indicated that the Ireland Strategic Investment Fund (“ISIF”) does not provide county level information as the publication of such information could inadvertently result in the disclosure of commercially sensitive information relating to underlying investee companies. The ISIF publishes bi-annual economic impact reporting which contains national and regional level data on the Fund's investments and economic impact. The ISIF H1 2018 Economic Impact Report is available on the ISIF website and sets out the regional spread of ISIF's investments, showing that 54 per cent of jobs supported and 47 per cent of capital invested are outside of Dublin. Approximately 6 per cent of investment and 4 per cent of economic activity achieved, to-date, are in the five Connacht counties.
It was not possible for the National Asset Management Agency (NAMA) to respond to this information request in the time available and therefore I will make arrangements to provide a response in line with Standing Orders.
|Body||Funding provided to projects in each of the years 2016 to 2018 and to date 2019|
2016 - €79,000
2017 - €771,464
2018 - €457,251.75
Jan/Feb 2019 - €30,000
|Social Finance Foundation||Co Roscommon|
2016 - €57,438
2017 - €392,925.80
2018 - €369,757.54
Jan/Feb 2019 - €129,315.43
2016 - Liquidity Scheme: €16,863,179
Credit Guarantee Scheme: €180,000
2017 - Liquidity Scheme: €19,656,235
Credit Guarantee Scheme: €150,000
Agriculture Cashflow Support Loan Scheme: €7,085,837
2018 - Liquidity Scheme: €4,866,485
Credit Guarantee Scheme: €865,000
Brexit Loan Scheme: €565,000 (€500,000 drawn down)
2019 - Liquidity Scheme: €937,559
Credit Guarantee Scheme: €180,000
Brexit Loan Scheme: €400,000 ( Draw down info on Q1 2019 not due to be reported until 15th May 2019)
|Strategic Banking Corporation of Ireland||Co Roscommon|
2016 - Liquidity Scheme: €2,905,162
2017 - Liquidity Scheme: €3,462,059
Agriculture Cashflow Support Loan Scheme: €133,394
2018 - Liquidity Scheme: €2,594,083
Credit Guarantee Scheme: €200,000
2019 - Liquidity Scheme: €244,671
Brexit Loan Scheme: €30,000 ( draw down info on Q1 2019 not due to be reported until 15th May 2019)