Commons Sense

House of Commons · Written Ministerial Statement

Bilateral loan to Ireland under the Loans to Ireland Act 2010

17 December 2020 · Treasury

Proposed by John Glen Con Salisbury

Foreign Affairs

Summarised by AI from the official record, so it can contain mistakes.

View on Parliament.uk

At a glance

Key points

  • The UK received a payment from Ireland under the Loans to Ireland Act 2010, including principal and accrued interest.
  • HM Treasury has updated Parliament on the repayment of the loan as per the repayment schedule.
  • The next Statutory Report will cover the period from October 2020 to March 2021.

Issue summary

The statement updates Parliament on the repayment of a bilateral loan provided by the UK to Ireland under the Loans to Ireland Act 2010.

Action requested

HM Treasury has received a payment from Ireland comprising principal and accrued interest, as per the repayment schedule. The next Statutory Report will be provided covering the period from October 2020 to March 2021.

Key facts

  • UK agreed to provide a £3.2 billion bilateral loan in December 2010.
  • Loan was disbursed in 8 tranches, with the final tranche drawn down on 26 September 2013.
  • On 7 December, HM Treasury received a payment of £407,852,313.75 from Ireland.
  • Payment includes £403,370,000 in principal and £4,482,313.75 in accrued interest.
  • Statutory Report was provided to Parliament covering the period from 1 April to 30 September 2020.
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