Dáil Éireann Debate, Tuesday - 7 November 2023
623. Deputy Eoin Ó Broin asked the Minister for Housing, Local Government and Heritage the total approved capitalisation approved by Government to date; the dates on which these capitalisations were approved; the amounts of this capitalisation drawn down to date; the total additional borrowing capacity permissible by the LDA in addition to this capitalisation; and the amount of this borrowing approved and drawn down to date. [47555/23]
View answerThe LDA currently have access to €1.25bn of capital from the Ireland Strategic Investment Fund (ISIF) and a further €1.25bn of borrowings as provided for under the LDA Act. Of the €1.25bn available through ISIF, the LDA have to date drawn down €625m of this funding - €100m on establishment in 2021 and a further €525m paid over two tranches in H1 2023. I agreed and approved €250m on 2 February 2023 and a further transfer of €275m to the LDA on 19 April 2023. This leaves a balance of €600m to be drawn down as required, and it is projected by the LDA that this will be committed by year end 2023. The LDA have so far not availed of their borrowing powers.
