Thursday, 14 November 2019

Ceisteanna (53, 54)

Robert Troy

Ceist:

53. Deputy Robert Troy asked the Minister for Finance the projects which he has identified for drawing down funding from the European Fund for Strategic Investments; and if he will make a statement on the matter. [47061/19]

Amharc ar fhreagra

Robert Troy

Ceist:

54. Deputy Robert Troy asked the Minister for Finance the number of project applications entered under the European Fund for Strategic Investments from 2014 to 2018 and to date in 2019, in tabular form; the number of successful agreements to date; the estimated amount of expected drawdown of funds; and if he will make a statement on the matter. [47062/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

I propose to take Questions Nos. 53 and 54 together.

Since the European Fund for Strategic Investments (EFSI)'s commencement in July 2015, it has been possible for any project promoter, either public or private, to engage with the EIB regarding the possibility of receiving loans or guarantees under EFSI for particular projects.

In this way, EFSI is providing an important additional funding possibility to the State alongside other possibilities such as the EIB's normal lending, the State's borrowings through the NTMA and other mechanisms such as PPPs and off-balance sheet vehicles. However, it is important to bear in mind that each EFSI loan entered into by the State pre-commits funding for the repayment of such loans, and so has to be considered in the context of the expenditure benchmark under the EU's fiscal rules.

In general, Government Departments with project related responsibilities have existing relationships with the EIB. On this basis it has been a matter for each Department concerned to advance their projects in coordination with the Government's Capital Plan as coordinated by the Department of Public Expenditure and Reform. The Department of Finance has no role in assessing either public or private projects which may be the subject of applications for EFSI loans/guarantees.

I am happy to inform the Deputy that there is a publicly available list of projects which have been approved for EFSI support by the EIB in the State (www.eib.org/en/efsi/efsi-projects/index.htm). For convenience I am providing a spreadsheet prepared by the EIB which contains lists of signed, approved and pre-approved Irish projects for your convenience.

The EIB’s website advises that there have been 33 transactions covering €1.5bn of approved EFSI financing and €7.1bn expected investment related to EFSI in Ireland since inception. As I mentioned in previous PQ responses on this topic, the Deputy should be aware that the EIB’s EFSI Irish project list contains both private and public sector projects, and it also includes cross-border projects between Irish entities and entities in other Member States. On the other hand, the list may not reflect Irish private sector project promoters participating in a project that could receive funding from EFSI loans/guarantees but which is led or based in another EU Member State.

Title

Country

EFSI financing

Total investment related to EFSI

Sector

Approval date

Aerogen Investment Programme

Ireland

30.00m

63.17m

RDI

21/07/2017

Amryt Pharma

Germany; Ireland

20.00m

178.00m

RDI

18/10/2016

CUBE Infrastructure Fund II

Czech Republic; Denmark; France; Ireland; Italy; Portugal; Spain; Sweden; United Kingdom; EU Countries

100.00m

729.00m

Digital; Energy; Transport; Environment and resource efficiency

16/06/2016

Capenergie 3 Fund

Belgium; Finland; France; Germany; Ireland; Italy; Spain; Sweden

45.00m (partial)

1,466.00m

Energy

21/07/2015

Cubic Telecom

Ireland

23.50m

209.15m

Digital; RDI

27/03/2019

DIF Core Infrastructure Fund I 

Austria; Belgium; Finland; France; Germany; Ireland; Netherlands Antilles; Spain

59.50m

371.11m

Digital; Energy; Transport

19/09/2017

Dasos Fund II Co-Investment Forestry Ireland

Ireland

28.50m

39.00m

Environment and resource efficiency

10/06/2016

Devenish Nutrition 

Ireland; United Kingdom

40.00m

356.00m

Smaller companies

10/07/2018

Ericsson 5G 

Ireland; Spain; Sweden; EU Countries

250.00m (partial)

1,450.90m

Digital; RDI

15/03/2018

IMPAX New Energy Investors III

Finland; France; Germany; Ireland; Italy; Poland

75.00m

1,600.00m

Energy

03/03/2016

Irish Continental Group Ferry Project

Ireland

75.00m

153.60m

Transport

01/06/2017

Irish Continental Group Ferry Project II 

Ireland

80.00m

168.50m

Transport

28/05/2018

Irish Social Housing PPP

Ireland

61.30m (partial)

300.00m

Social infrastructure

15/06/2017

Malin Corporation - Life Sciences Investments

Ireland; United Kingdom

55.00m (partial)

1,425.00m

Smaller companies; Social infrastructure; RDI

16/06/2016

NTR Renewable Energy Income Fund II 

France; Ireland; Italy; Sweden; United Kingdom; EU Countries

84.00m (partial)

1,209.00m

Energy

15/03/2018

Nuritas

Ireland

30.00m

264.00m

RDI

29/10/2018

Oweninny Onshore Wind Farm Phase 1 

Ireland

79.50m

176.30m

Energy

14/11/2017

Primary Care Centres PPP

Ireland

70.00m

135.00m

Social infrastructure

21/04/2015

Sbci Business Support Investment Platform

Ireland

15.00m

420.00m

Smaller companies

09/10/2018

Susi Renewable Energy Fund II

Denmark; Finland; France; Germany; Ireland; Italy; Portugal; United Kingdom

65.00m

1,085.00m

Energy

10/03/2016

TIIC Transport and Social Infrastructure Fund

Germany; Ireland; Netherlands Antilles; Portugal; Spain; EU Countries

60.00m

2,790.00m

Transport; Social infrastructure

12/10/2016

Vivasure

Ireland

10.00m

89.00m

RDI

22/03/2019

EFSI financing is the tranche of an operation that benefits from the support of the European Fund for Strategic Investments. This amount will sometimes differ from the total EIB financing amount of the same operation. Total investment related to EFSI refers to the total financing amount expected to be attracted for any particular EFSI project. This amount might come from public or private sources, and it includes EFSI financing provided by the Bank. Signed projects are listed with the actual amounts agreed in the contract, which may differ from the amounts initially authorised by the EIB Board of Directors.

Pre-Approvals: These are umbrella operations that have been approved under EFSI but which cannot be counted towards the EFSI objective until concrete sub-projects have been signed.