About £3.3 billion of Northern Ireland assets have been acquired by the National Asset Management Agency, the Deputy First Minister said today.
Martin McGuinness was briefing the Stormont Assembly about this month‘s North/South Ministerial Council meeting in Armagh.
“During the meeting we discussed a range of common challenges and shared views on the economy, the banks and Nama. It was noted that some £3.35 billion of Northern Ireland assets have now been acquired by Nama," Mr McGuinness said.
“The constraints on budgets in both jurisdictions were recognised and we welcomed the ongoing discussions between the two finance ministers to identify potential cost savings through co-operation and sharing.”
Nama is taking control of almost all property development loans made by the banks. It is creating a “bad bank” to remove toxic assets from the banking system.
Northern Ireland Finance Minister Sammy Wilson has been urging Minister for Finance Brian Lenihan to ensure there is no “fire sale” of Northern Ireland assets which could flood the property market.
PA