Dáil Éireann Debate, Wednesday - 25 March 2026
43. Deputy Pearse Doherty asked the Tánaiste and Minister for Finance further to Parliamentary Question No. 452 of 18 March 2026, the reason commercial consideration would `be given in relation to an interest rate between the EIB the publicly owned bank of the SBCI; and if he will make a statement on the matter. [22739/26]
View answerThe Strategic Banking Corporation of Ireland was established as a private limited company under the SBCI Act 2014. The SBCI Act also allowed for the SBCI to be independent in performance of its functions, except in certain areas set out in the Act. The Minister for Finance is the sole shareholder of the SBCI.
The SBCI considers the publishing of the interest rates as being commercially sensitive information, as it directly impacts the SBCI’s strategic advantage, and negotiation leverage, all of which carry a considerable impact on financial sustainability.
The SBCI maintains credit facilities with three partners: Funding and Debt Management (FDM) Unit of the National Treasury Management Unit, the European Investment Bank (EIB), and Ireland Strategic Investment Fund (ISIF). The SBCI is also in contact with other European funders who provided credit facilities to SBCI historically.
The SBCI negotiates funding rates with these entities based on the size of the facility and overall business relationship. Publicising the interest rates between EIB and SBCI could prejudice the outcome of future contractual negotiations.
