Written answer
Exchequer Savings
At end-2025, the funds held €12.7bn and €4.1bn respectively; 2026 transfers were €4.5bn and €2bn, with €134m drawn from the latter for environmental projects.
358. Deputy Shay Brennan asked the Tánaiste and Minister for Finance the current value of the Future Ireland Fund; and the current value of the Infrastructure, Climate and Nature Fund. [73497/26]
Comment on this
As the Deputy will be aware, the Future Ireland Fund (FIF) and the Infrastructure, Climate and Nature Fund (ICNF), were established in 2024 following the commencement of the Future Ireland Fund and Infrastructure, Climate and Nature Fund Act 2024 (‘the Act’).
Transfers to each of the funds are governed by the Act. Subject to an annual fiscal and economic assessment process, €2bn will transfer to the ICNF each year from 2025 – 2030, while 0.8% of GDP shall transfer to the FIF in each year from 2024 – 2035. In addition, each fund received an initial transfer from the National Reserve Fund (NRF) in 2024.
Management and investment of the FIF and ICNF rests with the National Treasury Management Agency (NTMA), who invest each fund in accordance with their respective long-term investment strategies.
The financial accounts of the FIF and ICNF are published in the NTMA’s annual report each year, which are available on the NTMA’s website. A detailed schedule of investments held by the funds as at 31 December 2025, is published in the NTMA’s 2025 Annual Report.
I am advised by the NTMA that the value of the FIF as at 31 December 2025 was €12.7bn, and that the value of the ICNF on the same date was €4.1bn.
Transfers of €4.5bn to the FIF and €2bn to the ICNF occurred in 2026.
The first drawdown from the ICNF to support designated environmental projects will occur this year, with €134 million to support projects designated by the Minister for Housing, Local Government and Heritage and the Minister for Climate, Energy and Environment. Primary responsibility for this drawdown process rests with the Minister for Public Expenditure, Infrastructure, Public Service Reform and Digitalisation. These projects were outlined in the 2026 Revised Estimates Volume (REV). This therefore reduces the total in the Fund by €134m. These funds will be drawn down from the ICNF and transferred to the Exchequer before year-end.