will assist the bank in identifying potential clients.
(14) This is largely financed through a reduction in cash balances of 8 billion [euro] and the NPRF
discretionary portfolio of 10 billion [euro].
But under the terms of the bailout, Ireland will take 12.5 billion euros out of the NPRF
, meant to address a future pensions time bomb, and funnel it into its banks.
In some cases government assistance has been given indirectly by the state-owned NPRF
in which case the transactions will show up as a rise in net debt, rather than the more commonly used gross debt measure.
Through the National Pension Reserve Fund (NPRF
), the government has substantial assets built up against future ageing pressures and it continues to pay I% of GNP into the fund each year.
was created as part of a long-term agreement with the government of Gibraltar and, prior to the group's activities in that region being wound down in early 2016, NPRF
operated the group's reception, treatment and storage facilities for maritime waste in Gibraltar.
As part of the plan, the money from the NPRF
fund - the State's cash reserve - will be ploughed into projects to stimulate the jobs market.
In recent years and up to 2006, there was an operating surplus of receipts over current expenditure that has largely been used to improve public infrastructure (Figure 4.4), although some was paid into the National Pension Reserve Fund (NPRF
) to cover future pension costs (Chapter 5) and a small part was used to pay down government debt.
M2 EQUITYBITES-January 17, 2017-Nature Group announces sale of subsidiary NPRF
in Gibraltar to GibOil for GBP4m cash
And he quizzed why the Government was loaning money from the NPRF
- which had simply become a slush fund at a time of emergency.