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Bilateral loan to Ireland

04 February 2020

Proposing MP
John Glen Con
Salisbury
Type
Written Ministerial Statement
Department
Treasury
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At a Glance

Issue Summary

This statement provides an update on the repayment of a bilateral loan provided by the UK to Ireland.

Action Requested

HM Treasury has received a payment from Ireland as part of the agreed repayment schedule and will report fully on all repayments in future statutory reports, with the next one due to cover the period from October 2019 to March 2020.

Key Facts

  • The UK provided Ireland with a bilateral loan of £3.2 billion in December 2010.
  • The final tranche was drawn down on 26 September 2013.
  • On 3 February, HM Treasury received a total payment of £404,714,183.56 from Ireland, including £403,370,000 in principal and £1,344,183.56 in accrued interest.
  • The government expects the loan to be repaid in full by 26 March 2021.
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