Dáil Éireann Debate, Tuesday - 2 December 2025
177. Deputy Ged Nash asked the Tánaiste and Minister for Finance if Ireland supports each of the elements of the ‘Compromiso de Seville’, the outcome document from this summer’s financing for development conference; how the Government is working to implement the commitments made, in particular, the commitment to (details supplied); and if he will make a statement on the matter. [68021/25]
Amharc ar fhreagraIreland remains consistent in our support of multilateralism and enabling an inclusive international system that delivers concretely for the poorest, the marginalised and most vulnerable to ensure that no-one gets left behind.
The Government endorsed the ‘Compromiso de Seville’ at the Fourth International Conference on Financing and Development (FfD4) which was attended by the Minister of State for International Development and Diaspora, Neal Richmond TD last July.
My Department supported the FfD4 ambition to renew the global financing framework for sustainable development and to build on the outcomes of previous International Conferences on Financing for Development. Public resources, policies and plans are at the heart of our efforts for a sustainable development investment drive.
The outcome document addresses a range of action areas, including Official Development Assistance, the role of domestic public resources and Beneficial Ownership transparency.
In relation to the Official Development Assistance (ODA), while we must acknowledge that it will never be enough to deliver the Sustainable Development Goals (SDGs), it remains a critical financing mechanism for the poorest and most vulnerable communities whom we partner with. Ireland remains committed to working towards the target to provide 0.7% of Gross National Income in ODA and has consistently increased allocations over recent years.
The Department of Finance also strongly supports the role of domestic public resources in financing sustainable development. Domestic resources are essential to close financing gaps and to fund the achievement of the Sustainable Development Goals. Ireland launched its whole of government approach to strengthening Domestic Resource Mobilisation for sustainable development in 2019, establishing a tripartite group of the Department for Finance, the Department of Foreign Affairs and Trade and the Office of the Revenue Commissioners. This Group constructively engages bilaterally and multilaterally with developing countries and provides substantial technical expertise on capacity building on tax administration and policy internationally.
On the specific commitment on Beneficial Ownership transparency, Ireland as an EU member has agreed to the Anti-Money Laundering (AML) Package which includes the 6th Anti-money laundering Directive (6AMLD), the EU Anti-money Laundering Regulation (AMLR), and the establishment of the EU Authority for Anti-Money Laundering (AMLA). Consequently, Ireland is obliged to transpose the Beneficial Ownership elements of the 6AMLD and the AMLR which, inter alia, involves moving towards greater harmonisation and transparency of our national Beneficial Ownership regime in conjunction with our European counterparts. Notably, the 6AMLD and the AMLR build on the previous EU AML Directives and provide for information sharing of Beneficial Ownership information amongst EU Member States and the newly established AMLA through EU Beneficial Ownership and bank account interconnection systems: BORIS and BARIS. These will allow Financial Intelligence Units (FIUs) and Competent Authorities, efficient and timely access to information on the identity of holders of bank accounts and payment accounts, securities accounts, crypto-asset accounts and safe-deposit boxes, their proxy holders, and their beneficial owners.
My Department with the Department of Justice, Home Affairs and Migration are currently working on the transposition of the 6AMLD and AMLR for which there are staggered transposition deadlines. The key upcoming dates include 10 July 2026 for certain aspects of 6AMLD and 10 July 2027 for the majority of 6AMLD and the AMLR. Furthermore, Ireland in conjunction with our EU partners will consider the feasibility of a global Beneficial Ownership register. Money laundering and terrorist financing is a global challenge that necessitates a global response to effectively combat bad actors and protect wider society from criminal activity.
