Dáil Éireann díospóireacht -
Wednesday, 9 Oct 1996

Vol. 469 No. 6

Written Answers. - Interest on Loans to Semi-State Bodies.

Ivor Callely

Ceist:

179 Mr. Callely asked the Minister for Tourism and Trade the amount paid in interest on loans from financial institutions by semi-State bodies under the aegis of his Department since 1992; if he has satisfied himself with such arrangements; and if he will make a statement on the matter. [17946/96]

Minister for Tourism and Trade (Mr. E. Kenny)

Between 1992 and 1995, ABT paid out a total of £40,000 in interest on a long-term loan taken out in 1967 for capital development purposes. As required by statute, the loan was taken out with the consent of the responsible Minister given with the concurrence of the Minister for Finance.

Over the same period, CERT paid out £86,000 in interest payments on an overdraft facility used solely to meet necessary expenditure while awaiting receipt of European Social Fund moneys. In all cases where the facility was used, it was with the prior sanction of the Department of Finance.

As regards the other agencies under my aegis, Bord Fáilte has not paid interest to financial institutions in the period in question while details on SFADCo are being supplied by my colleague, the Minister for Enterprise and Employment.