Business Irish

Thursday 23 November 2017

Solidarity bond may be aimed at Irish diaspora

THE NEW 'National Solidarity Bond', which is aimed at spurring economic recovery, could soon be available to the Irish diaspora.

A bond for Irish residents was announced by Finance Minister Brian Lenihan in his Budget last December.

It will allow members of the public to invest in infrastructure projects that will stimulate the beleaguered economy and create jobs.

But a new progress update on the suggestions made at last year's Global Irish Economic Forum at Farmleigh says an international bond could also be made available soon.

The diaspora bond, which would be bought by the Irish abroad, is currently being examined by the National Treasury Management Agency, the Department of Finance and other government departments.

A spokesman for the department said the solidarity bond would be introduced for Irish residents in mid-April and that an international version may follow soon after.

Foreign Affairs Minister Micheal Martin claimed significant success had already been achieved in forging stronger links with the "global Irish" and exploring ways of turning those links to Ireland's economic advantage.

He added: "

"The forum has come to be widely regarded as marking a new phase of active and practical engagement with our overseas communities, particularly in the business sector."

Mr Martin said the recently established Global Irish Network, bringing together leading Irish business contacts abroad, will integrate the most influential Irish and Irish-connected individuals into one global group.

About 300 of 360 people invited to join the network have signed up.

The first in a series of regional meetings of the network took place in London last month and others are to follow during the coming year.

Irish Independent

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