Dáil Éireann Debate, Tuesday - 20 September 2011
138 Deputy Dominic Hannigan asked the Minister for Finance if any of the money has been drawn down from the bilateral loan agreements with the UK, Sweden and Denmark; and if he will make a statement on the matter. [24929/11]
View answerTo date, there have been no draw downs from the bilateral loans available under the EU/IMF Programme of Financial Support for Ireland. Arrangements are well underway for the first drawdown under the Loan Agreement reached with the UK. The first drawdown of £403 million or approximately €463 million, using the exchange rate on 19 September 2011, is expected to be completed shortly.
Loan agreements with Sweden and Denmark are still being finalized. The first draw downs from Sweden and Denmark are expected to take place in the first quarter of 2012.
