Dáil Éireann Debate, Tuesday - 24 April 2018
131. Deputy Brendan Howlin asked the Minister for Finance the average interest rate applying to EIB loans initiated in each of the years 2016 and 2017 and to date in 2018; and if he will make a statement on the matter. [17940/18]
View answerI am responding on the basis that the Deputy is seeking information on the average cost of lending from the European Investment Bank (EIB) to the Irish Exchequer.
The National Development Finance Agency (NDFA), which is part of the National Treasury Management Agency, has informed me that the total amount of Exchequer borrowing from the EIB since the start of 2016 is €430 million. All of this funding was drawn down during 2016.
The weighted average interest on these loans is 0.8% per annum and the original weighted average term is just under 15 years.
The EIB has also committed to lend €490 million to the Exchequer to support the construction of the new Children’s Hospital in Dublin. These funds have not yet been drawn down.
