Dáil Éireann Debate, Thursday - 16 July 2015
701. Deputy Michael McGrath asked the Minister for the Environment, Community and Local Government the amount of equity capital that has been provided by the State to Irish Water in 2015 to date; the planned further equity investments in 2015 and 2016; and if he will make a statement on the matter. [29791/15]
View answerIrish Water's costs are funded through a mix of revenue from the domestic and non-domestic sector, third party finance (including bank lending and capital markets facilities) and State support which may be in the form of both equity and subvention. The main aspects of the Irish Water funding model are set out in a detailed fact sheet published on my Department’s website.
In July 2014, a capital contribution of €185m was provided to Irish Water and a further €54m was provided through the issue of a Convertible Loan Note to the Minister for Finance in November 2014. The equity investment agreed by Government in Irish Water in 2015 and 2016 is €406m. This financing is intended to support increased investment in public water services infrastructure by Irish Water. €222m in respect of 2015 was provided to Irish Water in December 2014 and the remaining €184m is due to be provided in 2016.
