Catherine Murphy (Kildare North, Social Democrats)
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192. To ask the Minister for Finance the number of bilateral loans Ireland has with the UK; the amount outstanding per loan; the original principal sum per loan; the interest rate per loan; the way in which these loans with be settled in the context of Brexit; the preparedness of the State regarding Brexit in the context of outstanding bilateral financial commitments; and if he will make a statement on the matter. [33624/23]

Michael McGrath (Cork South Central, Fianna Fail)
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Ireland has no bilateral loans with the UK. By 26 March 2021, Ireland repaid, on schedule and in full, the bilateral loan with the UK which was linked to the EU/IMF programme of financial assistance. Ireland borrowed a total of £3.23 billion pounds from the UK under this bilateral loan agreement. The loan was disbursed in eight equal tranches of £403 million pounds over the period October 2011 to September 2013, with each tranche becoming repayable 7.5 years after disbursement. To allow for budget certainty for both Ireland and the UK, interest was paid at a fixed rate that represented the UK’s cost of funding plus a service fee of 0.18 percentage points. The UK's decision to leave the European Union was not a factor in the repayment of this loan, which is now repaid in full in accordance with the agreed schedule.

Catherine Murphy (Kildare North, Social Democrats)
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193. To ask the Minister for Finance the number of bilateral loans Ireland has with other states in the EU and non-EU; the amount outstanding per loan; the original principal sum per loan; the interest rate per loan; and the number of loans settled in the past ten years to date. [33625/23]

Michael McGrath (Cork South Central, Fianna Fail)
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Ireland has no bilateral loans with other states in the EU or outside EU.

In the past ten years, Ireland has repaid three bilateral loans. The Irish financial assistance programme, which ran from 2010 to 2013, included bilateral loans from Sweden of €0.6 billion, from Denmark €0.4 billion and, from the United Kingdom, €3.8 billion. On 20 December 2017, the NTMA completed the early repayment of the bilateral loans from Sweden and Denmark. In March 2021, the NTMA also completed the repayment of Ireland’s bilateral loan from the UK, in accordance with the agreed schedule.