Michael Cahill (Kerry, Fianna Fail)
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193. To ask the Minister for Finance for a detailed up-to-date progress report on the Future Ireland Fund and the Infrastructure, Climate and Nature Fund; and if he will make a statement on the matter. [14873/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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The Future Ireland Fund (FIF) and the Infrastructure, Climate and Nature Fund (ICNF) funds were established in 2024 following the passage of the Future Ireland Fund and Infrastructure, Climate and Nature Fund Act through the Oireachtas. The Act was signed into law by the President on 18 June 2024 with most of the Act commenced on 30 July 2024.

In September 2024, there were transfers from the National Reserve Fund (NRF) to the ICNF of €2 billion and to the FIF of approximately €4.34 billion. The first annual transfer to the FIF occurred in October 2024, of approximately €4.05 billion

Budget 2025 approved the annual transfer to both funds for 2025. The value of the transfer to the FIF will be circa €4.08 billion and of €2 billion to the ICNF. These transfers will occur later this year and will mean that the combined transfers to both funds will be approximately €16.5 billion.

Each of the funds are currently invested by the National Treasury Management Agency (NTMA), which has responsibility for their investment, in line with their respective interim investment strategies. The NTMA is currently developing a long-term investment strategy for each of the funds, which will be subject to consultation with both the Minister for Finance and the Minister for Public Expenditure, Infrastructure, NDP Delivery and Reform. The strategies are likely to be agreed before end 2025.