Dáil Éireann Debate, Wednesday - 22 March 2017
50. Deputy Robert Troy asked the Minister for Transport, Tourism and Sport the options he is exploring for availing of the opportunities provided under the European Fund for Strategic Investments, EFSI, to boost capital expenditure on transport; if he is exploring any additional PPP projects under the EFSI; and if not, the reason this is the case. [14236/17]
View answerThe EIB - Ireland Financial Group, chaired by my colleague the Minister for Finance, is exploring specific issues relating to financing including opportunities and challenges for financing transport connectivity projects and the potential role the EIB may be able to play in these. My Department and agencies are participating in this exercise.
The Department actively encourages all transport sectors to explore all avenues of finance available including domestic banks, Trans European Network -transport (TENT), Connecting Europe Facility (CEF), European Investment Bank (EIB), Irish Strategic Investment Fund (ISIF) and the European Fund for Strategic Investment (EFSI), to secure the most suitable funding instrument at the most favourable commercial rates. In many cases, a mix of funding instruments is used for capital projects by ports, roads aviation and public transport sectors.
There are no specific transport projects that have been assisted under the EFSI as yet but some have been co-funded and assisted through CEF and Interreg programme (a European Territorial Cooperation programme that aims to stimulate cross border and inter-regional cooperation in the European Union). My Department has assisted them with their applications where appropriate. In addition a number of these State companies engage independently with national banks, European Commission and the European Investment Bank with regard to obtaining funding of their projects.)
Under the Capital Plan 2016 to 2021 no additional Road PPP projects are planned. The previously approved projects are all at construction stage. As part of the Capital Plan Review I understand that the Department of Public Expenditure and Reform has set up a High Level Group to provide the Minister for Public Expenditure and Reform with an evidence based analysis and recommendations on the future role of using PPPs (and concessions) as a procurement option in the delivery of capital infrastructure, compared to traditional procurement methods including an assessment of risks arising from traditional as compared to PPP procurement of large capital projects. This analysis will be delivered in time to inform the Mid Term Capital Review.
