asked the Minister for Finance in relation to the proposed loan from the World Bank to finance a livestock development project (a) the likely rate of interest to the farmer; (b) the credit institutions through which it is likely to be channelled; (c) if the exclusion of sheep from the project has been reconsidered; (d) if the operation of the loan is likely to involve an increase in the area officer staff of the Agricultural Credit Corporation; (e) the amount which it it hoped will be made available by the World Bank; and (f) the extent to which (e) will be supplemented by funds from the Irish Exchequer.
Ceisteanna—Questions. Oral Answers. - World Bank Loan.
25.
I stated in reply to a question on 17th May that the project is still under discussion with the World Bank and that I was not, therefore, able to give details regarding it. This is still the position.
Having regard to the World Bank's timetable, I do not expect the negotiations to be completed before the end of this year or early next year. I do not propose to comment further until decisions have been reached.
Is the Parliamentary Secretary aware that there has been considerable press speculation about this matter and would he not consider it desirable to make some statement in relation to at least some of the points mentioned in this question and, in particular, in regard to his refusal to give any information in relation to item (d) of the question? Is he aware that the chairman of the ACC has made a statement on this matter? If the chairman of the ACC is prepared to make a statement why should the Parliamentary Secretary refuse to do it in this House?
I was the first person to introduce this subject into this House when handling a Bill for the Minister. I do not think the Deputy is of any help to the farmers by pressing the point at this time. Some points raised by the Deputy have not been decided and therefore cannot be answered. We should not be expected to declare our hand before the negotiations have been completed and these will take six to eight months more yet.
As there has been considerable speculation in the press about this matter, would the Parliamentary Secretary not consider it desirable that in so far as authoritative information is in the hands of the Government it should be made available to the farmers so that press speculation would not be their only source of information?
There are several matters which are still in a fluid state such as the extent and type of livestock development aid expected from EEC sources, which would affect our approach to the World Bank. I might add that the World Bank interest rates vary from time to time. Therefore these are matters on which we cannot make categorical statements.