Michael Fitzmaurice (Roscommon-Galway, Independent)
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187. To ask the Minister for Finance the Department that is in control of the Ireland Strategic Investment Fund; if this fund is for regional development in the Republic of Ireland; and if he will make a statement on the matter. [36156/22]

Paschal Donohoe (Dublin Central, Fine Gael)
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I am informed by the NTMA who manage the Ireland Strategic Investment Fund that the ISIF invests on a commercial basis to support economic activity and employment in Ireland. ISIF invests across a range of strategic priorities including Housing and Enabling Investments, Climate Action, scaling Irish companies and supporting the Food and Agriculture sector. A focus on regional investment to support balanced growth has been and remains an important element of ISIF’s strategy. 

ISIF recently launched a new initiative as a cornerstone of its investment strategy – this new initiative will result in major investment being targeted in each of Ireland’s regional cities in the form of new places to work, places to live and enabling investments resulting in regeneration of our regional city centres. ISIF will also target investments at emerging and scaling businesses in the regions and other opportunities to support sustainable growth. ISIF already has a significant track record of investing in the regions and I am advised that ISIF has a currently active pipeline of investments which include a significant number of investments across the regions.

Although the NTMA comes under my remit, as Minister for Finance, I have no role in individual ISIF transactions or ISIF’s commercial decision making, more generally. The Ireland Strategic Investment Fund (ISIF) was established by statute under the National Treasury Management Agency (Amendment) Act 2014. The Act also established an independent Investment Committee to oversee the implementation of ISIF's investment strategy.