The Government agreed, on 28 November 2010, to a three-year financial support programme for Ireland by the EU and IMF. External support amounted to €67.5 billion.
The external support under the programme comprised:
- €22.5 billion from the IMF Extended Fund Facility;
- €22.5 billion from the European Financial Stabilisation Mechanism (EFSM); and
- €22.5 billion from the European Financial Stability Facility (€17.7bn) and bilateral loans from the United Kingdom (€3.8bn), Sweden (€0.6bn) and Denmark (€0.4bn).
Support was provided on the basis of specific policy conditionality which is detailed in a Memorandum of Understanding. The final review was completed in December 2013 and the final disbursement was made in March 2014.
In December 2017, the NTMA completed the early repayment in full of Ireland’s outstanding loans from the IMF.
Ireland’s bilateral loans from Denmark and Sweden were also repaid in full.
Programme loans remain from the EFSM, EFSF and a bilateral loan from the United Kingdom.