Microfinance Ireland (MFI) was established to manage and control the Microenterprise Loan Fund Scheme under the Microenterprise Loan Fund Act 2012 and opened for business in October 2012. MFI was established under this legislation to be an independent private company, a subsidiary of Social Finance Foundation, with its own Board of Directors. Therefore, I am not involved in the day to day operational or decision making activities within MFI. The directors are responsible for preparing the annual report and the financial statements and for keeping proper books of account. The Annual Report and Accounts for MFI for 2012 were published in June 2013 and were laid before the Houses of the Oireachtas. They are available on MFI’s website www.microfinanceireland.ie and on my Department’s website www.enterprise.gov.ie.
My Department publishes all quarterly and annual progress reports on the Microenterprise Loan Fund on my Department’s website www.enterprise.gov.ie. Microfinance Ireland will publish its annual report and accounts (audited by the Comptroller and Auditor General) 2013 during 2014 in accordance with its statutory obligations.