asked the Minister for Finance the total amount of loans received from the European Community in each year from 1973 to date; the date of receipt of each, the interest rate and the repayment dates in each case.
Written Answers. - European Community Loans.
171.
Loans from the European Community were received through four channels, namely the European Investment Bank (EIB), the New Community Instrument for Borrowing and Lending (NIC), the European Coal and Steel Community (ECSC) and finally from the EEC itself as represented by the Commission.
The total amount received through these channels in each year from 1973 to date is as follows: 1973: £11.1 million; 1974: £24.8 million; 1975: £23.136 million; 1976: £205.473 million; 1977: £79.24 million; 1978: £78.5 million; 1979: £235.725 million; 1980 to date: £107.3 million.
Details of the loans received are given in the following tables:
EIB Loans Signed for Projects in Ireland since Accession to Bank Membership.
|
Date of signing |
Borrower |
Project |
Amount IR£(m) |
Interest Rate |
Date of repayment of final instalment¹ |
||
|
1973 |
|||||||
|
June |
Irish Sugar Company |
Modernisation of sugar factories |
2 |
.80 |
7 |
.375% |
June 1981 |
|
November |
Minister for Finance |
Telephone development in 1973-74 |
7 |
.50 |
8 |
.5% |
November 1993 |
|
December |
ACC |
Irish Agricultural Wholesale Society—animal feed balancer plant |
0 |
.80 |
8 |
.75% |
Loan repaid December 1979 |
|
Total 1973 |
11 |
.10 |
|||||
|
1974 |
|||||||
|
February |
CIE |
Rail Development |
4 |
.00 |
8 |
.75% |
January 1994 |
|
June |
ACC |
Golden Vale—expansion of dairy manufacturing facilities |
3 |
.30 |
9 |
.5% |
December 1988 |
|
July |
ICC |
Global loan for small firms |
2 |
.50 |
9 |
.875% |
May 1986 |
|
July |
Cement Ltd. |
Cement Works at Platin, Co. Meath |
3 |
.00 |
9 |
.875% |
July 1989 |
|
September |
ACC |
Global loan for small firms |
2 |
.50 |
10 |
.5% |
Repaid March 1979 |
|
September |
Minister for Finance |
Telephone development in 1974 |
9 |
.50 |
10 |
.5% |
September 1986 |
|
Total 1974 |
24 |
.80 |
|||||
|
1975 |
|||||||
|
July |
Cement Ltd. |
Further works at Platin |
4 |
.50 |
9 |
.25% |
July 1990 |
|
September |
Minister for Finance |
Telephone development in 1975 |
17 |
.50 |
9 |
.5% |
July 1990 |
|
Total 1975 |
22 |
.00 |
|||||
|
1976 |
|||||||
|
March |
NET |
Ammonia-Urea plant |
17 |
.2 |
9 |
.0% |
March 1984 |
|
December |
Minister for Finance |
Telephone developments in 1976 |
16 |
.0 |
8 |
.875% |
December 1988 |
|
December |
Bord na Mona |
Peat development programme |
2 |
.2 |
8 |
.875% |
December 1988 |
|
Total 1976 |
35 |
.4 |
|||||
|
1977 |
|||||||
|
June |
Minister for Finance |
Cork Harbour and City Water Supply |
10 |
.0 |
8 |
.95% |
June 1992 |
|
October |
Minister for Finance |
Three loans for Industrial Factory Construction by IDA, SFADCo and Gaeltarra Eireann (7.7+2.0+2.3) |
12 |
.0 |
8 |
.55% |
October 1992 |
|
December |
Minister for Finance |
Telephone development in 1977-78 |
17 |
.0 |
9 |
.60% |
November 1997 |
|
December |
Minister for Finance |
Road improvement schemes |
13 |
.1 |
9 |
.60% |
November 1997 |
|
Total 1977 |
52 |
.1 |
|||||
|
1978 |
|||||||
|
April |
Minister for Finance |
B & I Car Ferry “Mv. Connacht” |
1 |
.375 |
7 |
.45% |
March 1986 |
|
June |
ACC |
Global loan for small firms |
2 |
.5 |
7 |
.75% |
June 1990 |
|
June |
ICC |
Global loan for small firms |
2 |
.5 |
7 |
.5% |
May 1988 |
|
July |
Minister for Finance |
Cork Harbour Development Scheme |
10 |
.0 |
9 |
.3% |
July 1998 |
|
July |
Minister for Finance |
Cork Harbour and City Water Supply |
10 |
.0 |
9 |
.2% |
July 1993 |
|
July |
Minister for Finance |
Road improvement schemes |
10 |
.0 |
9 |
.3% |
July 1998 |
|
October |
ESB |
Aghada generating station |
20 |
.0 |
9 |
.2% |
November 1998 |
|
November |
Minister for Finance |
Dublin Water Supply |
13 |
.5 |
9 |
.35% |
November 1998 |
|
November |
Minister for Finance |
B & I Car Ferry “Mv. Connacht” |
3 |
.625 |
8 |
% |
November 1986 |
|
November |
ICC |
Global loan for small firms |
5 |
.0 |
7 |
.5% |
November 1988 |
|
Total 1978 |
78 |
.5 |
|||||
|
1979 |
|||||||
|
May |
ESB |
*Aghada generating station |
10 |
.0 |
9 |
.35% |
May 1999 |
|
May |
ICC |
Global loan for small firms |
5 |
.0 |
7 |
.5% |
May 1989 |
|
June |
Minister for Finance |
*Telephones development in 1979 |
18 |
.0 |
9 |
.85% |
June 1999 |
|
June |
Minister for Finance |
*Forestry development |
15 |
.0 |
9 |
.85% |
June 1999 |
|
June |
Minister for Finance |
*Shannon Water Supply |
5 |
.0 |
9 |
.85% |
June 1999 |
|
July |
Minister for Finance |
*Land Drainage |
7 |
.0 |
8 |
.55% |
July 1999 |
|
July |
Minister for Finance |
*Galway Water Supply |
4 |
.3 |
8 |
.55% |
July 1999 |
|
July |
Minister for Finance |
*Mayo/Sligo Water Supply |
5 |
.0 |
8 |
.55% |
July 1999 |
|
July |
Minister for Finance |
*Dublin Water Supply |
16 |
.5 |
8 |
.55% |
July 1999 |
|
July |
Minister for Finance |
*Road Improvement Schemes |
11 |
.0 |
8 |
.55% |
July 1999 |
|
July |
Bord na Móna |
*Peat Development Programme |
4 |
.8 |
12 |
.05% |
July 1994 |
|
September |
Minister for Finance |
*East and South-East Water |
16 |
.0 |
8 |
.35% |
September 1999 |
|
September |
ESB |
*Distribution/Transmission |
20 |
.0 |
9 |
.45% |
September 1999 |
|
September |
ESB |
*Aghada Turbines |
15 |
.0 |
9 |
.45% |
September 1999 |
|
September |
ICC |
Global loan for small firms |
10 |
.0 |
9 |
% |
September 1989 |
|
November |
Bord na Móna |
*Littleton peat briquetting plant |
3 |
.0 |
12 |
.85% |
November 1994 |
|
December |
ACC |
Global loan for small firms |
2 |
.5 |
9 |
.25% |
December 1991 |
|
Total 1979 |
168 |
.1 |
|||||
|
1980 |
|||||||
|
February |
Minister for Finance |
*Land Drainage |
5 |
.5 |
7 |
.75% |
January 1995 |
|
February |
Minister for Finance |
*Shannon Water Supply |
6 |
.7 |
7 |
.75% |
January 1995 |
|
February |
Minister for Finance |
*Mayo/Sligo Water Supply |
5 |
.0 |
7 |
.75% |
January 1995 |
|
February |
Minister for Finance |
*South-West Water Supply |
10 |
.0 |
7 |
.75% |
January 1995 |
|
February |
Minister for Finance |
*Fishery Harbours Development |
5 |
.7 |
7 |
.75% |
January 1995 |
|
February |
ICC |
Global loan for small firms |
10 |
.0 |
9 |
% |
January 1990 |
|
March |
Minister for Finance |
*Three loans for Industrial factory construction, to IDA (33.2) SFADCo (7.4) and Gaeltarra Éireann (2.8m.) |
43 |
.4 |
8 |
.35% |
March 1995 |
|
March |
Minister for Finance |
*Midlands/North-East Water Supply |
10 |
.0 |
8 |
.35% |
March 1995 |
|
March |
Minister for Finance |
*East and South-East Water Supply |
4 |
.0 |
8 |
.35% |
March 1995 |
|
March |
Minister for Finance |
*Forestry Development |
7 |
.0 |
8 |
.35% |
March 1995 |
|
Total to date 1980 |
107 |
.3 |
|||||
|
Total EIB |
499 |
.3 |
Loans from New Community Instrument for Borrowing and Lending (NIC)
|
Date of signing |
Borrower |
Project |
Amount IR£(m) |
Interest Rate |
Date of repayment of final instalment 1 |
||
|
1979 |
|||||||
|
September |
Minister for Finance |
Dublin Water and Sewerage Scheme |
16 |
.5 |
9 |
.69% |
October 1996 |
|
September |
Minister for Finance |
Irish Road Improvement Scheme |
13 |
.0 |
8 |
.45% |
October 1994 |
|
September |
Minister for Finance |
Irish Telephone Development Project |
12 |
.0 |
8 |
.45% |
October 1994 |
|
September |
ESB |
Aghada Power Station |
16 |
.5 |
9 |
.69% |
October 1996 |
|
Total 1979 |
58 |
.0 |
|||||
|
Total NIC |
58 |
.0 |
Loans from the European Coal and Steel Community (ECSC).
|
Date of signing |
Borrower |
Project |
Amount IR£ (m) |
Interest Rate |
Date of repayment of final instalment |
||
|
1975 |
|||||||
|
May |
National Building Agency |
Finance for new houses for coal and steel workers |
0 |
.136 |
1 |
% |
June 2000 |
|
November |
Industrial Credit Company |
Loans for on-lending to small industries to re-employ redundant coal and steel workers |
1 |
.0 |
8 |
.8% 2 |
November 1989 |
|
Total 1975 |
1 |
.136 |
|||||
|
1976 |
|||||||
|
April |
National Building Agency |
Finance for modernisation of houses of coal and steel workers |
0 |
.073 |
1 |
% |
December 2000 |
|
Total 1976 |
0 |
.073 |
Loans from the European Coal and Steel Community (ECSC).
|
Date of signing |
Borrower |
Project |
Amount IR£ (m) |
Interest Rate |
Date of repayment of final instalment |
||
|
1977 |
|||||||
|
November |
National Building Agency |
Finance for new houses and to modernise houses of coal and steel workers |
0 |
.170 |
1 |
% |
June 2001 |
|
Total 1977 |
0 |
.170 |
|||||
|
1979 |
|||||||
|
October |
National Building Agency |
Finance for new houses and to modernise houses of coal and steel workers |
0 |
.109 |
1 |
% |
June 2003 |
|
October |
Irish Steel Ltd., Haulbowline, Co. Cork |
Modernisation and re-equipment project at the Company's plant at Haulbowline |
9 |
.519 |
10 |
.25% 2 |
July 1999 |
|
Total 1979 |
9 |
.628 |
|||||
|
Total ECSC |
11 |
.007 |
Loans from EEC, represented by Commission.
|
Date of signing |
Borrower |
Project |
Amount IR£ (m) |
Interest Rate |
Date of repayment of final instalment |
||
|
1976 |
|||||||
|
April |
Minister for Finance |
Alleviation of balance of payment difficulties caused by the increase in prices of petroleum products |
36 |
.927 |
1% over LIBOR |
This loan was replaced by bond issues—see *below |
|
|
March |
Minister for Finance |
Alleviation of balance of payment difficulties caused by the increase in prices of petroleum products |
35 |
.183 |
8 |
.25% |
April 1982 |
|
March |
Minister for Finance |
Alleviation of balance of payment difficulties caused by the increase in prices of petroleum products |
23 |
.086 |
7 |
.25% |
April 1983 |
|
April |
Minister for Finance |
Alleviation of balance of payment difficulties caused by the increase in prices of petroleum products |
60 |
.834 |
7 |
.5% |
December 1979 |
|
*October |
Minister for Finance |
Alleviation of balance of payment difficulties caused by the increase in prices of petroleum products |
13 |
.980 |
7 |
.75% |
October 1981 |
|
Total 1976 |
170 |
.000 |
|||||
|
1977 |
|||||||
|
*March |
Minister for Finance |
Alleviation of balance of payment difficulties caused by the increase in prices of petroleum products |
13 |
.484 |
7 |
.625% |
October 1980 25% October 1981 45% October 1982 30% |
|
*July |
Minister for Finance |
Alleviation of balance of payment difficulties caused by the increase in prices of petroleum products |
13 |
.489 |
7 |
.625% |
July 1982 |
|
Total 1977 |
26 |
.973 |
|||||
|
Total EEC (Commission) |
196 |
.973 |
* These loans have received EMS interest subsidies of 3%. The interest rates quoted are gross rates.
1 Final repayment dates are given. Intermediate repayment dates occur at yearly or half-yearly intervals in the case of EIB/NIC loans.
2 The ECSC has provided a 3% subsidy on this loan. Payment of the subsidy is spread over five years. The interest rate quoted is a gross rate.