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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

Euro 85bln for Irelands rescue

Posted on 30 November 2010

From Actionforex.com: As was widely expected, the Irish bailout package details were finally announced Sunday. The €85bn rescue package will be funded with €17.5bn from Irish domestic resources including its sovereign wealth fund, and the remaining amount is being funded from the EFSM, the IMF, the EFSF and bilateral loans.
As for where the funds will flow, €10bn will be used to recapitalize Ireland’s banks, €50bn used for government requirements and €25bn is available for contingency……………………………………….Full Article: Source

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