Dáil Éireann Debate, Tuesday - 10 February 2026
174. Deputy John Lahart asked the Tánaiste and Minister for Finance the current value of the Future Ireland Fund; the current value of the Infrastructure, Climate and Nature Fund; and if he will make a statement on the matter. [9542/26]
Amharc ar fhreagraThe Future Ireland Fund (FIF) received Exchequer contributions of €4.1 billion in 2025, bringing the value of the Fund to approximately €12.7 billion as of 31 December 2025. The FIF is designed to serve as a long-term investment fund to support, in a consistent and sustainable manner, State expenditure from 2041 onwards. The Government has committed to the transfer of 0.8 percent of GDP, approximately €4.5 billion, this year following last year’s economic and fiscal assessment process.
This will help to deal with future recognised expenditure pressures including ageing, climate, digitalisation and other fiscal and economic challenges. It will support in a consistent and sustainable manner, State expenditure from 2041 onwards.
The Infrastructure, Climate and Nature Fund (ICNF) received Exchequer contributions of €2 billion in 2025, bringing the value of the ICNF to approximately €4.1 billion as of 31 December 2025. The ICNF’s purpose is to support State expenditure where there is a significant deterioration in the economic or fiscal position of the State, and in the years 2026 to 2030, on designated environmental projects. An additional €2 billion is scheduled to be transferred by the Exchequer to the ICNF in 2026.
The January Exchequer returns published last week saw the first payments of the year into the Future Ireland Fund and Infrastructure, Climate and Nature Fund, with €1½ billion in ‘windfall’ receipts transferred.
It is estimated that the value of both Funds will reach approximately €46 billion by 2029 and over €55 billion in 2030 based on full contributions. This takes into account projected growth on investments of the Funds, as well as the expected drawdown of €3.15 billion from the ICNF for designated environmental projects between 2026 to 2030.
During 2025, both funds operated under interim investment strategies managed by the National Treasury Management Agency (NTMA). Following the publication of the long-term strategies last month, the NTMA is now conducting the work involved in transitioning both funds from the interim investment strategies to their new long-term investment strategies.
Investment is in line with the long-term strategies being implemented on a phased basis over time, in order to manage the risk to public funds from potential short-term market volatility during the transition phase.
