Dáil Éireann Debate, Thursday - 18 December 2025
371. Deputy Seán Ó Fearghaíl asked the Tánaiste and Minister for Finance if he will report on the Future Ireland Fund during 2025; his priorities for 2026; and if he will make a statement on the matter. [73580/25]
Amharc ar fhreagra372. Deputy Seán Ó Fearghaíl asked the Tánaiste and Minister for Finance if he will report on the Infrastructure, Climate and Nature Fund during 2025; his priorities for 2026; and if he will make a statement on the matter. [73581/25]
Amharc ar fhreagraI propose to take Questions Nos. 371 and 372 together.
As the Deputy will be aware, the Future Ireland Fund (FIF) and the Infrastructure, Climate and Nature Fund (ICNF) are the two new long-term savings funds established by the Future Ireland Fund and Infrastructure, Climate and Nature Fund Act 2024 (‘the Act’).
The FIF received its annual transfer of 0.8% GDP in 2025 in line with Section 8 of the Act. The value of this transfer was approximately €4.08 billion. This transfer builds on the transfers made in 2024, consisting of the initial annual transfer and monies transferred to the FIF from the National Reserve Fund (NRF). This brings the total value of transfers to the FIF by year-end 2025 to approximately €12.5 billion.
The ICNF, received a transfer of €2 billion from the NRF in 2024, and received its first annual transfer of €2 billion in 2025. This brings the total value of transfers to the ICNF by year-end 2025 to €4 billion.
Annual transfers are subject to an economic and fiscal assessment process carried out by the Irish Fiscal Advisory Council and my Department. Transfers to each of the funds in 2026 were approved as part of Budget 2026. The 2025 assessment is available on the Department of Finance website: www.gov.ie/en/department-of-finance/publications/budget-2026-transfers-to-the-fif-and-icnf-economic-assessment-in-accordance-with-the-act/
Responsibility for the investment of each of the two funds lies with the National Treasury Management Agency (NTMA). The NTMA publishes information and financial accounts in respect of the Future Ireland Fund, the Infrastructure, Climate and Nature Fund and the Ireland Strategic Investment Fund (ISIF) in its Annual Report. The 2024 Annual Report is available here: www.ntma.ie/annualreport2024/documents/NTMA-Annual-Report-2024.pdf
Drawdown from the ICNF for the purposes of funding ‘designated environmental projects’ may begin from 2026. Designated environmental projects are those projects which are likely to contribute to the reduction of greenhouse gas emissions, the improvement of water quality or the improvement of habitats in line with Section 20 of the Act. The process of drawing down funding for designated environmental projects, is managed by the Department of Public Expenditure, Infrastructure, Public Service Reform and Digitisation.
