Wednesday, 24 February 2021

Questions (203)

Thomas Pringle

Question:

203. Deputy Thomas Pringle asked the Minister for Finance the number of companies that have applied to access the Ireland Strategic Investment Fund pandemic stabilisation and recovery fund; the number of businesses that applied for assistance; the number that were accepted, declined and appealed, respectively; the value of the assistance provided to date; and if he will make a statement on the matter. [10087/21]

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Written answers (Question to Finance)

The NTMA informs me that ISIF publishes bi-annual reporting which contains an update on the status of the operation of the Ireland Strategic Investment Fund, including economic impact reporting. The latest Report available on the ISIF website at the following link (https://isif.ie/uploads/publications/FY-2020-Report-including-H12020-Economic-Impact-Report.pdf) sets out an overview of the Pandemic Stabilisation Recovery Fund engagements, deployment and pipeline as at 31 December 2020.

ISIF dedicated €2bn of its capital to a Pandemic Stabilisation and Recovery Fund (PSRF) which is focused on investing directly in medium and large Irish businesses impacted by COVID and investing indirectly through fund commitments. PSRF has invested over €400 million nationwide across 20 investments spanning multiple sectors since inception and has a pipeline of €600m across a variety of sectors with concentrations in pandemic affected areas (approximately 6 transactions) such as aviation and tourism/hospitality with the balance of transactions skewing towards recovery investments.