Ivana Bacik
Question:219. Deputy Ivana Bacik asked the Minister for Finance if he will make a statement on the recent Ireland Strategic Investment Fund divestment from certain investments in occupied territories. [16164/24]
View answerTuesday, 16 April 2024
Questions (219)
Written answers
On Thursday, 4th April I was advised by the National Treasury Management Agency that it has decided to divest from certain ISIF global portfolio investments in companies that have certain activities in the Occupied Palestinian Territory.
ISIF is to divest from six of these companies with a total value of approximately €2.95m. The six companies are Bank Hapoalim BM; Bank Leumi-le Israel BM; Israel Discount Bank Ltd; Mizrahi Tefahot Bank Ltd; First International Bank Ltd and Rami Levi Chain Stores Ltd.
ISIF has determined that the risk profile of these investments is no longer within its investment parameters and that the commercial objectives of these investments can be achieved via other investments.
The decision will be implemented as soon as possible over the coming weeks.
I am advised ISIF will keep under review the alignment of relevant investments within its investment parameters and commercial objectives.
While recognising the independence of ISIF in the management of the investment portfolio, I believe this is the correct investment decision in respect of the assets it manages on behalf of the State.