asked the Minister for Finance when the Government proposes to make another application to the World Bank for a loan for agricultural development.
8.
Ceisteanna—Questions. Oral Answers. - World Bank Loans.
7.
asked the Minister for Finance the number of applications for loans from the £10 million World Bank Loan; and the number of loans approved.
With your permission, a Cheann Comhairle, I propose to take Questions Nos. 7 and 8 together.
The Government will consider whether an application should be submitted to the World Bank for a second loan for agricultural development in the light of farmers' response to the first loan and of progress in the expenditure of the available funds.
As applications by farmers under the existing loan scheme may be submitted to branches of the banks and the Agricultural Credit Corporation throughout the country, it is not possible to say how many applications have been made since the scheme was introduced a few months ago. I understand, however, that about 300 farm plans are being prepared with a view to the submission of applications. Only two proposals have reached the project director and these have been approved.
Is the Minister aware that practically £60 million was invested in agriculture by Irish farmers last year and that £10 million is small by comparison? I presume there will be further investments in the coming year and would the Minister not consider that he should make a further loan application as quickly as possible?
As I have already indicated, the question of a second application will be considered when we see the manner in which the first loan is being taken up. It is still so new that we have not had an indication as to the manner it is being taken up. Were we to apply immediately, we would be asked by the World Bank how the first loan had been taken up and we would have to give them the same information as I have just given to the Deputy. He can be assured there will be no delay in making a second application as soon as we have evidence to offer to the World Bank that the loans are being used.
Is the Minister aware that a news item appeared in a newspaper on 20th October stating that the Minister was beginning negotiations to apply for a further loan?
I am not aware of the news item to which the Deputy refers but I have given many indications of the Government's readiness to apply for a further loan. However, applications must be based on evidence of how the previous loan has been taken up. The evidence the World Bank would seek is that existing loan facilities are being used. We have no doubt they will be and when we have evidence to that effect we can apply again.
Can the Minister let us know what percentage of this £10 million has been given out?
I have indicated that only two proposals have reached the project director and that both have been approved. We are not yet in a position at the central level to say what is the total value of loan applications.
Will the Minister say what is the total amount of the two loans for which applications have been received?
I do not think it would be appropriate to do so because they could be identified. The question of the amount of loans to individuals——
Is it not so that nothing whatsoever has been paid so far out of this £10 million?
The Deputy is purporting to give information.
I am asking a question. Am I right in assuming that no money has been given?
I was asked in the question for the number of applications for loans.
I am asking a supplementary.
The Minister will answer supplementaries which are relevant to the questions put down.
That is for the Ceann Comhairle, not for the Minister. I have asked a supplementary question which is within the scope of the original question.
The Deputy will appreciate that the Chair has no control over Deputies' questions or Ministers' replies.
Is it not correct that the question of whether a supplementary is in order is a matter for you alone?
Seeing that you allowed my supplementary question and that the Minister has refused to answer it, I must assume either that he does not know or that he does not want to tell us.
He knows and he does not want to tell us.
I would draw the attention of the House to the questions put down by the Deputy's colleague. They asked for the number of applications.
On a point of order, you as Ceann Comhairle allowed my supplementary question as being in order. Then it is not for the Minister to decide whether it is in order or out of order.
The Chair has already called the next question.
I am always happy to answer questions.
The Minister is not. He is double dealing. He tried to trick his way out of it. He is as incompetent as his colleague who is now in Turkey.