Paul Donnelly
Question:171. Deputy Paul Donnelly asked the Minister for Finance if he has spoken with the President of the European Investment Bank to date in 2023. [40406/23]
View answerWednesday, 20 September 2023
Questions (171)
Written answers
The Deputy will be aware that Ireland has benefitted from loans from the European Investment Bank (EIB) to the value of approximately €1 billion per annum in recent years. EIB financing to Ireland has covered both public and private sectors, and a broad range of sectors, including broadband; energy generation and transmission; transport; health; water; education (schools and Third Level); SMEs via the SBCI; social housing; and roads PPPs; with a broad geographic spread.
Since taking office as Minister for Finance in December 2022, I have had an opportunity to engage informally on a number of occasions with the outgoing EIB President, Werner Hoyer. As the Governor for Ireland at the EIB, I attend the Annual Meeting of the EIB Board of Governors. We met at the AGM in June and I had a good engagement with President Hoyer at the Meeting. There are other occasions where I have the opportunity to speak with the President of the EIB. In this regard, I attend monthly meetings of the Economic and Financial Affairs Council (Ecofin) in Brussels. This is made up of the economic and finance ministers from all member states and we receive regular updates from the EIB President. In addition, I have also met with EIB Vice-President Ricardo Mourinho-Félix, who represented the EIB at this year’s EIB-Ireland Financing Group meeting, which took place in Cork on 30 June. I met President Hoyer again last week at the informal Eurogroup and Ecofin meetings in Spain.
Officials are in regular, ongoing, contact with the EIB to further widen and deepen the Irish/EIB relationship to secure additional funding for the country. This includes engagements in Luxembourg and Ireland with EIB officials, including the head of the Bank's Irish Office who is based here.
Finally, I would note that the term of the current EIB President will conclude at the end of 2023. I understand that he intends to make a visit to Dublin prior to his term concluding at the end of the year and my officials are engaging with the EIB on this currently. The process to elect a new President is underway and I am hopeful that a decision on this will be reached in the coming weeks. It would be my intention to seek a meeting with the new President, once in place, early in 2024 if it is possible.