For Written Answer on : 21/05/2019
Question Number(s): 135 Question Reference(s): 21837/19
Asked by: Darragh O'Brien T.D.
To ask the Minister for Finance the way in which his Department has used the funds the State received from the sale of its stake in a company (details supplied); and if he will make a statement on the matter. (Details Supplied) Aer Lingus
The proceeds of the sale of the state's shareholding in Aer Lingus have been used to establish the Connectivity Fund which is managed by the Ireland Strategic Investment Fund (ISIF). The Connectivity Fund is being invested on a commercial basis as a sub portfolio of the ISIF fund, and consistent with the overall ISIF double bottom line mandate i.e. investing for both commercial return and economic impact.
The ISIF have advised me that it has completed four investments under the Connectivity Fund, namely:
These investments bring the total deployed under the Connectivity Fund to over €90 million. ISIF have informed me that there are a range of further pipeline connectivity-based investments on which it is currently working.
ISIF’s refocused strategy targets five priority themes, one of which is investment to support regional development. As such, the ISIF have advised that the Connectivity Fund will henceforth be focused on commercial investments that support improved regional connectivity.
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