NBI investors can provide 99% of funding through high-cost loans

Significant interest payments can be earned by investors from loans, with just 1% coming from the purchase of shares

Ossian Smyth, the junior minister with responsibility for the National Broadband Plan, took questions in the Dáil last night on a spate of recent revelations in the Business Post concerning the multi-billion-euro rural broadband plan. Picture: Rollingnews.ie

Investors in National Broadband Ireland can provide 99 per cent of the funding they are obliged to make under the terms of their contract through high-cost loans from which they will earn significant interest payments, with just 1 per cent coming from the purchase of shares.

Ossian Smyth, the junior minister with responsibility for the National Broadband Plan, revealed the information in the Dáil last night as he took questions on a spate of recent revelations in the Business Post concerning the multi-billion-euro rural broadband plan.