Pa Daly (Kerry, Sinn Fein)
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198. To ask the Minister for Finance for an update on the Ireland Strategic Investment Fund; if he is aware of investments made in companies that are operating and-or involved in illegal Israeli settlements; to provide a breakdown of these investments; if he intends to divest from these investments; and if he will make a statement on the matter. [4240/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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I take it that the Deputy is referring to investments made by ISIF.

As the Deputy is aware, the UN maintains a database of business enterprises involved in certain specified activities relating to settlements in the Occupied Palestinian Territories. At the end of 2023, ISIF’s direct investments in companies on the UN database totalled approximately €4.2 million in 11 companies. ISIF’s indirect investments included 8 companies totalling approximately €9.4 million.

As announced by the NTMA in April 2024, ISIF has divested from six companies on the UN Database in which it had investments with a total value of approximately €2.95m. The six companies were Bank Hapoalim BM; Bank Leumi-le Israel BM; Israel Discount Bank Ltd; Mizrahi Tefahot Bank Ltd; First International Bank Ltd and Rami Levi Chain Stores Ltd.

At the time of that disinvestment, the NTMA informed my predecessor that in divesting, ISIF determined that the risk profile of the particular Occupied Palestinian Territories related investments were no longer within its investment parameters and that the commercial objectives of these investments can be achieved via other investments.

ISIF’s risk management approach is multi-faceted and considers a variety of factors that impact on investment risk and reward. Given commercial sensitivities in respect of its investments, ISIF has informed me that it does not comment on individual investment decisions. ISIF will continue to monitor its holdings to ensure that investments are within ISIF’s risk profile and investment parameters.