Vol. 395 No. 8
41 Mr. Ryan asked the Minister for Industry and Commerce the number of loan guarantees in operation within his Department and any of the agencies under his control which offer such guarantees; the total amount of such loans guaranteed; and if he will make a statement on the matter.
I am empowered under the Nítrigin Éireann Teoranta and Irish Steel legislation to guarantee loans to these companies.
A statement of the guaranteed borrowing as at 31 December 1989 in respect of both bodies was recently laid by me before both Houses of the Oireachtas.
Under the Insurance Acts, 1953 to 1988, the Minister for Industry and Commerce is authorised to underwrite export credit insurance to the value of £500m.
The total value of guarantees in place, as at 31 December, 1988 (the latest period for which figures are available) amounts to £57,894,815 and involve approximately 100 guarantees.
Under the market entry development scheme, which is operated on my behalf by Córas Tráchtála, there are at present five loans guaranteed by me and the total amount involved is £1,009,678. The loan guarantee schemes being operated by the State agencies under the aegis of my Department come within the day-to-day operation of these agencies and, therefore, are matters in which I have no direct function.
