andMr. P. Barry asked the Minister for Finance the amount of assistance Ireland is receiving from the European Investment Bank in 1980; the percentage this represents of all assistance being received by Ireland; the manner in which decisions were taken as to the type of project to benefit from this assistance; by whom these decisions were made; and if he will outline the Government's policy regarding the use of the facilities available from the bank.
Written Answers. - EIB Benefits.
345.
To date, in 1980, Ireland has received loans from the European In-vestment Bank of £130.3 million. It is estimated that our total borrowing from the bank's own resources in 1980 will be about £225 million representing over 80 per cent of Ireland's borrowing from Community sources for the year.
The EIB in consultation with borrowers identify projects that comply with their statute and operational guidelines. Decisions on the grant of loans are taken by the board of directors of the bank on the recommendation of the management committee.
It is Government policy as a minimum to borrow such amounts as will be necessary to ensure the full takeup of EMS subsidies which are associated for the most part with EIB loans.