On 8 December 2013, Ireland officially exited the EFSF financial assistance programme. The EFSF contributed a total of €17.7 billion to a joint external financing package of €67.5 billion which also included loans from the European Financial Stabilisation Mechanism (EFSM), International Monetary Fund (IMF) and bilateral lenders (the UK, Sweden and Denmark).
This was the first financial assistance programme carried out by the EFSF. It made a total of 10 loan disbursements between February 2011 and December 2013. The loans provided by the EFSF have supported Ireland in the implementation of an economic adjustment programme, whose main goals were: restoring fiscal sustainability; structural reforms focusing on competitiveness and job creation; and a downsizing, restructuring and recapitalisation of the banking sector.
These reforms have allowed Ireland to return to a path of sustainable economic growth, and to end reliance on external assistance and resume long-term funding in financial markets.
||Disbursed amount (€ bn)
||Cumulative disbursed amount (€bn)
|| Initial final maturity
||Revised final maturity|
|18/06/2013||1.6||14.4||not applicable (n.a.)
|Current weighted average maturity 20.8 years|
European Financial Stability Facility
6a, Circuit de la Foire Internationale, L-1347 Luxembourg
Grand Duchy of Luxembourg
R.C.S. Luxembourg B153414