Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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439. To ask the Minister for Finance the amount NAMA has made available to developers in loan facilities to complete projects by year up to the end of the second quarter of 2021. [41178/21]

Paschal Donohoe (Dublin Central, Fine Gael)
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Since its inception, NAMA has advanced capital funding to its debtors and receivers in cases where it can be shown that such funding will enhance the value of the assets securing NAMA’s loan portfolio. Subject to commercial viability, NAMA funds capital expenditure for the planning, design and construction of new or acquired residential and commercial projects. NAMA also funds infrastructure, as necessary, to facilitate these developments. Additionally, NAMA provides funding for essential remediation works to existing assets or to improve the income producing potential and disposal value of assets.

The following table shows the breakdown of capital expenditure funding by year since inception. A total of €3.9 billion has been advanced to end-June 2021 for new and existing projects. All of this funding is procured from within NAMA’s own resources without any reliance on Exchequer funding.

Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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440. To ask the Minister for Finance the amount NAMA has paid out to date for repair and maintenance of properties in its portfolio. [41179/21]

Paschal Donohoe (Dublin Central, Fine Gael)
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NAMA’s statutory mandate per section 10 of the NAMA Act 2009 is to achieve the best commercial return from its acquired loans. In that context, NAMA judiciously advances funding to its debtors and receivers in order to optimise the disposal value of secured properties. Such funding is provided on a commercial basis and repaid to NAMA when the properties (or loans) are sold.

NAMA identified a number of existing properties in its secured portfolio that did not meet relevant fire regulations and building standards. Accordingly, the Agency provided funding for essential expenditure such as fire safety works and other necessary health and safety works to ensure that properties were compliant with current building regulations and health and safety requirements. Additionally, NAMA provided funding for remediation works to unfinished or defective housing in order to bring the properties to a habitable standard. Some of these remediated units were subsequently delivered by NAMA for social housing.

I am advised that from inception to end-June 2021, NAMA has provided funding of approximately €131m for remediation works to existing residential and commercial properties securing its loans, with a further €50m potentially required. Further information is included in NAMA’s 2020 Annual Report which is available on the Agency’s website: www.nama.ie.