212. Deputy Seán Ó Fearghaíl asked the Tánaiste and Minister for Finance if he will report on the Future Ireland Fund since January 2025; his priorities for same for the rest of 2026; and if he will make a statement on the matter. [53497/26]

213. Deputy Seán Ó Fearghaíl asked the Tánaiste and Minister for Finance if he will report on the Infrastructure, Climate and Nature Fund since January 2025; his priorities for same for the rest of 2026; and if he will make a statement on the matter. [53498/26]

I propose to take Questions Nos. 212 and 213 together.

The Future Ireland Fund (FIF) and the Infrastructure, Climate and Nature Fund (ICNF) are two long-term savings funds established by my department following the enactment of the Future Ireland Fund and Infrastructure, Climate and Nature Fund Act 2024 (‘the Act’).

Ireland is facing a number of substantial structural challenges over the coming decades – in the form of demographic changes, decarbonisation and slowing productivity growth. Each of these challenges will bring significant fiscal costs. By establishing these funds, we are taking the opportunity to save for these known costs.

Both the FIF and the ICNF are a key element of the Government's fiscal strategy, which is aimed at improving public services, boosting our competitiveness via infrastructure investment and investing through the funds to protect the public finances in the coming years and decades.

Each of these two funds are invested by the NTMA according to their long-term investment strategies, with a view to securing the optimal financial return.  The NTMA publishes information and financial accounts in respect of the Future Ireland Fund and the Infrastructure, Climate and Nature Fund in its Annual Report.

As the Deputy will be aware, by year-end 2025 the FIF had received total transfers of approximately €12.5 billion, while the ICNF had received total transfers of €4 billion.

The 2025 economic and fiscal assessment process determined that transfers to both funds should continue in 2026. By the end of this year, an additional €4.5 billion will have transferred to the FIF, alongside an additional €2 billion to the ICNF.

I would note that 2026 is the first year in which funding is available for draw down from the ICNF to support designated environmental projects. Designated environmental projects are those which are likely to contribute to the reduction of greenhouse gas emissions, the improvement of water quality or the improvement of habitats in line with Section 20 of the Act. This process is primarily overseen by my colleague, Mr Jack Chambers TD, Minister for Public Expenditure, Infrastructure, Public Service Reform and Digitalisation.