asked the Minister for Finance the total foreign borrowings by the Industrial Credit Corporation in each of the past four years; the source of these borrowings; and the interest rate in each case.
Written Answers. - Foreign Borrowings.
357.
): The following is the information sought in respect of borrowings by the ICC from the European Investment Bank:
|
Year ended 31 October |
Amount £million |
Average rate of interest |
|
1981 |
36.4 |
9% |
|
1982 |
22.0 |
10.5% |
|
1983 |
7.0 |
10.6% |
|
1984 |
3.0 |
10.5% |
The Irish £ amounts are based on the rates of exchange ruling on the drawdown dates.
In addition, the ICC undertook foreign currency borrowings on a short term basis, varying from overnight to three months, from various foreign banks. As the ICC competes for funds on the interbank market with other banks operating here, it is not considered appropriate that details of these borrowings should be made public.