Belfast Telegraph

489m euro instalment from Britain

The Government has been handed the latest multimillion-euro handout from the British Treasury.

British financial secretary Mark Hoban confirmed more than 489 million euro had been sent across the Irish Sea as part of a four billion euro bailout loan deal agreed in 2010.

He said: "The Government believes it is in our national interest that the Irish economy is successful and its banking system is stable."

Mr Hoban added that London "continues to support Ireland's efforts to improve its economic situation".

The release of the new money, which has a maturity date of September 30, 2019, follows Ireland's successful completion last month of the fifth quarterly review of its programme of financial assistance from the European Union and International Monetary Fund.

The UK Treasury gave the cash - the third instalment - on March 28, but ministers updated the UK Parliament through a written statement.

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