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Irish wealth fund set to invest further in pandemic-hit sectors By Reuters

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© Reuters. FILE PHOTO: Offices in the Central Bank of Ireland are seen in the financial district in Dublin, Ireland November 8, 2017. REUTERS/Clodagh Kilcoyne

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DUBLIN (Reuters) – Ireland’s sovereign wealth fund is involved in discussions with a number companies in the hardest hit sectors such as travel in need of further investment to help them survive the COVID-19 pandemic, the head of the country’s debt agency said.

The Ireland Strategic Investment Fund (ISIF), which is overseen by the debt office, was mandated a year ago to invest up to 2 billion euros ($2.4 billion) directly in larger firms hit by the pandemic via equity, debt and hybrid instruments.

ISIF made 400 million euros of such investments last year, including a 150 million euro loan to IAG (LON:)’s Irish airline Aer Lingus. It said on Monday it had approved another 400 million euros so far this year with discussions ongoing on further potential investments.

($1 = 0.8393 euros)

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