Dáil Éireann Debate, Thursday - 9 June 2016
47. Deputy Michael McGrath asked the Minister for Finance the consideration the Ireland Strategic Investment Fund gives in making a commercial investment in a project (details supplied) to the amount and form of the investment, when it will take place and the stage it is at; and if he will make a statement on the matter. [15213/16]
View answerI can inform the Deputy that, due to commercial sensitivities, the ISIF does not comment on any transactions which may or may not be in its pipeline. This is essential to ISIF's ability to operate in the market place and to give commercial consideration to transactions as they arise.
The ISIF operates to a high degree of transparency regarding its activities and transactions completed. The legislation which provided for the ISIF's establishment, the NTMA (Amendment) Act 2014, prescribes the reporting responsibilities of ISIF to the Minister for Finance. ISIF is required to report to the Minister regarding its investment strategy, operations and economic impact, and the Act outlines that this reporting is subject to preserving confidentiality in regard to commercially sensitive information. A copy of the recently published update on economic impact is available on the ISIF website at http://www.isif.ie/news/press-releases/isif-publishes-economic-impact-report-for-2015/index.html. The NTMA Annual Report which includes detailed descriptions of ISIF investments will be published in due course.
