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Minister for Finance welcomes receipt of €100 million installment under the €400 bilateral loan agreement with Denmark

The Minister for Finance, Mr. Michael Noonan, T.D., today (30th March) welcomed the first disbursement of €100 million funds from Denmark following the signature of a €400 bilateral loan agreement with Denmark on 21st March 2012 as part of the EU/IMF Programme of Support.

Minister Noonan, who is currently in Copenhagen attending the Informal meeting of European Finance Ministers as part of the Danish Presidency, stated

“I would like to thank Denmark for their participation in the EU/IMF programme of support for Ireland. The €400 million bilateral loan from Denmark represents a very significant contribution from Denmark to Ireland’s ongoing recovery. The EU/IMF programme is providing Ireland with the resources and space to make the necessary adjustment to restore confidence in Ireland and return the Irish economy to a path of sustained growth and job creation. We have introduced over 90 measures to date and we are on track to emerge from the programme and return to the markets at reasonable interest rates next year.”