asked the Minister for Fisheries and Forestry the amount of money advanced by the commercial banks for boatbuilding and where such liability is shown by BIM in the Annual Report and Accounts for the years 1975, 1976, 1977 and 1978.
Written Answers. - Boatbuilding Funds.
257.
No long-term finance was provided by the commercial banks in 1975 or 1976 for the building of fishing vessels. In 1977 such finance totalled £992,115. Figures for 1978 are not yet available.
These loans are made directly to fishermen and supported by a BIM guarantee. The balances outstanding are shown as a contingent liability in the notes on the accounts of the board.
In addition to the loans to fishermen the banks provide bridging finance to the board to enable them to fund progress payments to Irish boatyards.