‘Bad bank’ gave developers loans of €3.5bn
Funding comes from Nama’s own resources to ‘enhance value’ of assets, and is used in design and building of residential and commerical projects
Nama has pumped €3.5 billion-worth of funding into developers over the past eight years, new figures have shown.
The state’s bad bank provides funding to its debtors and receivers to “enhance the value” of assets securing Nama’s loan portfolio.
Developers typically use the funding in the planning, design and construction of new residential and commercial projects. The funds come from Nama’s own resources rather than from exchequer funding.
Figures provided by Finance Minister ...
