Denis Naughten
Question:43 Mr. Naughten asked the Minister for Finance the work to date of the National Development Finance Agency; and if he will make a statement on the matter. [9566/03]
Written Answers - National Development Finance Agency.
The National Development Finance Agency will play an important role in advising state authorities on maximising value for money for the Exchequer by identifying the best financial packages and the application of commercial standards in terms of evaluating financial risks and costs for projects. It will provide a centralised expert service to all state authorities which will replace the existing system of separately recruited consultancy services.
The NDFA was established on 1 January 2003. Since then the core team, including a chief executive, has been appointed. Work has been proceeding on a number of fronts. All relevant Departments and State authorities have been contacted to determine their plans for infrastructure projects and working arrangements are now being put in place to progress these projects as expeditiously as possible. The NDFA is already working with some of the sponsoring departments on a number of projects.
The level of investment that the NDFA will fund will be evaluated in the context of the overall approach to public capital investment. A rolling five year programme of investment will be agreed for all departments and this will consist of an exchequer funded element and a PPP-NDFA element. The NDFA will operate within this framework.
Question No. 44 answered with Question No. 15.