BIM bank loans and repayment
Outstanding bank loans were £2,981,615 in 1976 and £3,652,914 in 1977; the 1978 figure was unavailable. The loans financed vessel construction and were repaid when vessels were completed and purchasers obtained long-term finance.
asked the Minister for Fisheries and Forestry the amount due for bank loans by BIM for the years 1976, 1977 and 1978 and the arrangement for the repayment of such bank loans.
Comment on this
Bank Loans of £2,981,615 and £3,652,914 were outstanding on 31 December 1976 and 31 December 1977 respectively. The figure for 1978 is not yet available.
These loans were in respect of bridging finance to fund progress payments on fishing vessels under construction in Irish boatyards. Repayment is made when a vessel is completed and long-term finance has been provided by the commercial banks to the purchaser of the vessel.