Dessie Ellis
Question:20. Deputy Dessie Ellis asked the Minister for Transport, Tourism and Sport the progress his Department has made in using the proceeds of the sale of Aer Lingus for a connectivity fund. [39266/15]
View answerWednesday, 11 November 2015
Questions (20)
Written answers
I understand from the Department of Finance that the connectivity fund established from the proceeds of the State's stake in Aer Lingus is to be a sub-portfolio of the Ireland Strategic Investment Fund (ISIF) and that ISIF is responsible for the management of the fund. I also understand from that Department that the fund will operate on a commercial basis and therefore not constitute Government expenditure. Insofar as the fund will be used to support connectivity projects, the ISIF has defined connectivity very broadly but to include transport-type projects such as ports and airports and access to such assets.
The recently published Capital Plan references a range of transport projects including, in particular, the new Metro North Scheme. A detailed business case will now be prepared for that project. Funding for initial stages of construction has been provided for under the new Capital Plan but final decisions on potential funding options for the project will only be made following the detailed planning and design work.
Any parliamentary questions in relation to the management of the Fund should be addressed to the Minister for Finance.