Economic Secretary statement: bilateral loan to Ireland
Statement by the Economic Secretary to the Treasury, John Glen MP, on the bilateral loan to Ireland.
In December 2010, the UK agreed to provide a bilateral loan of 拢3.2 billion as part of a 鈧�67.5 billion international assistance package for Ireland. 皇冠体育app loan was disbursed in 8 tranches, and the final tranche was drawn down on 26 September 2013. Ireland has made interest payments on the loan every six months since the first disbursement.
On 26 March, in line with the agreed repayment schedule, HM Treasury received a total payment of 拢406,428,318.19 from Ireland. This comprises the repayment of 拢403,370,000 in principal and 拢3,058,318.19 in accrued interest.
皇冠体育app next Statutory Report will cover the period 1 October 2020 to 31 March 2021. HM Treasury will report fully on the repayments received during this period in the Report.
皇冠体育app Government will inform Parliament of the repayment and the next statutory report through a Written Ministerial Statement following its return from recess.