asked the Minister for Finance what progress has been made with the establishment of the private development bank referred to in the Third Programme: Economic and Social Development, Chapter 7 Par. 35, which according to the Third Programme has been the subject of discussions with Irish financial interests and also with an IFC mission which visited Ireland towards the end of 1968.
Ceisteanna — Questions. Oral Answers. - Private Development Bank.
35.
The general question of industrial financing, of which the establishment of a private development bank is but one aspect, has been the subject of discussion with the International Finance Corporation and Irish financial interests. The whole question is still under consideration but the view being formed is that it would be preferable to proceed by way of a loose type of consortium as the best means of mobilising capital for industry. This alternative is being explored with the various financial interests concerned, including the IFC., and I am hopeful that improved arrangements for industrial financing will emerge.