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Bilateral loan to Ireland

05 October 2020

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

Issue Summary

The UK Treasury is providing an update on a bilateral loan to Ireland.

Action Requested

HM Treasury has received the latest repayment from Ireland as scheduled and has submitted a report to Parliament detailing the financial transactions and future payment schedule. The Government expects full repayment of the loan by March 2021.

Key Facts

  • In December 2010, the UK agreed to provide a bilateral loan of £3.2 billion to Ireland.
  • The final tranche was drawn down on 26 September 2013.
  • On 7 September, HM Treasury received a total payment of £405,490,687.38 from Ireland comprising principal and interest repayment.
  • A written ministerial statement on the previous statutory report regarding the loan to Ireland was issued on 29 April 2020.
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