Vol. 469 No. 6
98 Mr. Callely asked the Minister for Health 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. [17954/96]
The amount paid in interest on such loans, in the years 1992 to 1995, comes to £7.4 million approximately over the four years. These loans were approved by my Department on foot of approval from the Minister for Finance. The individual loan agreements were entered into following a process of evaluation of competitive bids from the main banking companies. The loans are in respect of hospital equipping and improvement of facilities. in the main. A number of loans were approved on the basis of a self-financing arrangement, where the benefits accruing through more efficient systems would, over time, produce savings of a long-term nature.
