Rural Development Programme Projects

Dáil Éireann Debate, Tuesday - 29 November 2016

Tuesday, 29 November 2016

Questions (428, 436)

Joan Burton

Question:

428. Deputy Joan Burton asked the Minister for Arts, Heritage, Regional, Rural and Gaeltacht Affairs if her Department has contacted the Irish League of Credit Unions and the Credit Union Development Association regarding the submission her Department received from Irish Rural Link seeking the establishment of a working group with their participation to investigate the establishment of a local public banking network here; and if she will make a statement on the matter. [37071/16]

Joan Burton

Question:

436. Deputy Joan Burton asked the Minister for Arts, Heritage, Regional, Rural and Gaeltacht Affairs the discussions her Department has had with the Minister and Department of Finance regarding the establishment of a pilot local public bank in the midlands region; and if she will make a statement on the matter. [37081/16]

Written answers

Minister of State at the Department of Arts, Heritage, Regional, Rural and Gaeltacht Affairs (Deputy Michael Ring)

I propose to take Questions Nos. 428 and 436 together.

The Programme for a Partnership Government contains a commitment to investigate, amongst other options, the German Sparkassen model for the development of local public banks that operate within well-defined regions. My Department’s officials have been provided with details of a proposal based on the Sparkassen model by Irish Rural Link, who have also presented the proposal to the Department of Finance.

Senior officials from my Department recently met with their counterparts in the Department of Finance and have agreed to develop a work programme to examine the potential of the Sparkassen model and other models of local public banking, as referenced in the Programme for a Partnership Government. No discussion has taken place regarding the establishment of a pilot public bank in the midlands, or any other particular region.

The officials will meet again in January and hope to be in a position to conclude their work around the middle of next year. As part of their work, they will engage with relevant stakeholders, as required.