Tuesday, 23 July 2019

Questions (229)

Richard Boyd Barrett

Question:

229. Deputy Richard Boyd Barrett asked the Minister for Finance the amount NAMA has made available to developers in loan facilities to complete projects by year up to the end of quarter 2 of 2019. [33523/19]

View answer

Written answers (Question to Finance)

Since its inception, NAMA has advanced capital funding to its debtors and receivers in cases where it can be shown that such funding will enhance the value of the assets securing NAMA’s loan portfolio. Subject to commercial viability, NAMA funds capital expenditure for the planning, design and construction of new residential and commercial projects. NAMA also funds infrastructure, as necessary, to facilitate these developments. Additionally, NAMA provides funding for essential remediation works to existing assets or to improve the income producing and disposal potential of assets.

The following table shows the breakdown of capital expenditure funding by year since inception. A total of €3.48 billion has been advanced to end-June 2019 for new and existing projects.

Year

2010

2011

2012

2013

2014

2015

2016

2017

2018

Q2 2019

€’m

168

205

150

188

477

631

521

525

433

178

All of this funding is procured from within NAMA’s own resources without any reliance on Exchequer funding.