Wednesday, 14 May 2014

Ceisteanna (66)

Tony McLoughlin

Ceist:

66. Deputy Tony McLoughlin asked the Minister for Finance if he will provide details of the new strategic investment fund and construction plan; the way it may provide equity to allow banks in turn to loan to developers to build homes in certain parts of the country; and if he will make a statement on the matter. [21678/14]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

The Government's Construction Strategy, published today, 14 May, aims to support a return to a sustainable and properly functioning property and construction sector as an essential part of our national economic recovery. The Strategy includes measures to ensure that financing is available to support necessary and viable development. In particular, a High Level Working Group, led by my Department, will be established to examine the availability of both banking and non-banking sources of finance. In this context, and to the extent that there are financing gaps which can be filled on a commercial basis, it will be open to the Ireland Strategic Investment Fund (ISIF), the legislation for which I will be introducing in the House shortly, to consider addressing such gaps subject to its overall investment mandate.