One key aspect of The Currency’s coverage of National Broadband Ireland (NBI)’s finances last week was the fact that the company in charge of the National Broadband Plan was nearly entirely funded through expensive loans – of €100 million in capital provided by its shareholders to date, €98 million has been in the form of debt at a 12 per cent compound interest rate repayable on demand from January 9, 2024, while private investors have purchased only €2 million worth of shares in the business. The government has insisted that these shareholders’ loans qualify as “equity” and count towards the…

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