The Minister for Finance Paschal Donohoe has confirmed that a loan given to Ireland from the UK during the financial crisis has been paid off.
Speaking about the repayment, Donohoe confirmed that the final repayment had been made on the €3.7bn loan which had been handed out in structured payments between 2011 and 2013.
Although Ireland had looked to repay the loan earlier, it is believed that they decided to follow the 7 year repayment plan.
Announcing the news Donohoe said thr repayment marked another step on the road since Ireland left the IMF assistance fund 2013.
However Ireland still has an outstanding balance of €41bn in loans borrowed from the European Union.
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