EFSF programme for Ireland (concluded)

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.

Loan details

Disbursement Date
Disbursed amount (€ bn)
Cumulative disbursed amount (€bn)
 Initial final maturity
Revised final maturity
01/02/2011
1.9
1.9
18/07/2016 01/08/2032
01/02/2011 1.7
3.6
18/07/2016
01/08/2033
10/11/2011 0.9
4.5
04/02/2022
01/08/2030
10/11/2011
2.1
6.6
04/02/2022 25/07/2031
15/12/2011 1.0
7.6
23/08/2019 01/08/2030
12/01/2012 1.2
8.8

04/02/2015

01/08/2029
19/01/2012
0.5 9.3
19/07/2041
01/07/2034
03/04/2012
2.7
12.0
03/04/2037
01/08/2031
02/05/2013 0.8 12.8 02/05/2029 01/08/2029
18/06/2013 1.6 14.4 not applicable (n.a.) 
18/06/2042
27/09/2013 1 15.4 n.a. 27/09/2034
04/12/2013 2.3 17.7 n.a. 04/12/2033
Current weighted average maturity 20.8 years

European Financial Stability Facility
Société Anonyme
6a, Circuit de la Foire Internationale, L-1347 Luxembourg
Grand Duchy of Luxembourg
R.C.S. Luxembourg B153414