Dáil Éireann Debate, Tuesday - 21 February 2023
721. Deputy Sean Sherlock asked the Minister for Agriculture, Food and the Marine if he will provide a schedule of payments received by the State forestry company, Coillte, from the European Union for each of the years since it drew down an initial European Investment Bank loan of £27.8 million in the year of its establishment, 1988. [8195/23]
Amharc ar fhreagra722. Deputy Sean Sherlock asked the Minister for Agriculture, Food and the Marine if he will provide a schedule of loans drawn down by the State forestry company, Coillte, from the European Investment Bank for each of the years since it drew down an initial EIB loan of £27.8 million in the year of its establishment, 1988. [8196/23]
Amharc ar fhreagraI propose to take Questions Nos. 721 and 722 together.
Coillte is a private limited company established under the Forestry Act 1988 and is operationally independent from the Department of Agriculture, Food and the Marine.
Under SI 367/1988 -Forestry Act 1988 (Coillte Teoranta) (Vesting Day) Order of 1988, the 1st January 1989 was appointed to be the vesting day for Coillte Teoranta, i.e. the day on which certain provisions of the Forestry Act 1988, in relation to that company came into effect.
I can confirm that Coillte did not draw down any loan from the European Investment Bank in 1988.
Ministerial consent was given in 2016 for Coillte to put in place borrowing facilities with the EIB for up to €90 million for the purpose of financing the Group's planting, forest management and forest road construction and maintenance programme during the years 2016-2020 inclusive. This loan was drawn down in full in 2017.
Coillte has accessed no further loans from the EIB.
