Question to the HM Treasury:

To ask Her Majesty’s Government what are the arrangements for the government of the Republic of Ireland to repay loans provided during the recent banking crisis.

The UK provided a bilateral loan to Ireland as part of an international assistance package, designed to stabilise the Irish economy and public finances. The UK bilateral loan was not limited to specific purposes but contributed to Ireland's general government financing.

In accordance with the Loans to Ireland Act 2010, HM Treasury reports to Parliament every six months including information on principal and interest payments.

I refer the noble Lord to the report laid on 13 October 2014 which is also available online, alongside all previous reports submitted by HM Treasury^[1].

^[1] These reports are available in the Library of the House and can be accessed on the following site: https://www.gov.uk/government/collections/bilateral-loan-to-ireland