Dáil Éireann Debate, Wednesday - 6 May 2026
274. Deputy Emer Currie asked the Minister for Public Expenditure, Infrastructure, Public Service Reform and Digitalisation the total amount invested in the Infrastructure, Climate and Nature Fund; the amount of this fund invested in US government bonds; and if he will make a statement on the matter. [33444/26]
View answerThe Infrastructure, Climate and Nature Fund (ICNF) was valued at approximately €4.1 billion as of 31 December 2025. Detailed holdings as at 31 December 2025 have not yet been published and will be included in the NTMA’s Annual Report, which will be published in the coming months.
It is understood from the Department of Finance that as at 31st December 2024, the ICNF did not hold any US government bonds. During 2024, the ICNF was invested in accordance with an interim investment strategy which restricted investments to the following permitted euro-denominated assets:
Sovereign debt, limited to debt issued or guaranteed by a central government in the Euro-Area
Quasi-sovereign debt limited to:
Debt issued by a region, province, state or city
Debt issued by an international government organisation
Debt issued by a government agency, or supranational
Cash
A detailed schedule of investments held by the ICNF, as at 31 December 2024, is published in the NTMA’s 2024 Annual Report.
For further detailed queries on the investment of ICNF amounts, the Deputy is referred to the Department of Finance.
