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Sources in the private lending sector are concerned that the focus of HBFI on major players in the Irish residential market is skewing the market and dissuading international lenders from funding the sector. The agency, established by Paschal Donohoe, has provided over €2bn in loans to developers, with a significant portion going to larger firms. Critics argue that HBFI should be supporting smaller developers in areas where private funding is lacking, rather than competing directly with private lenders. The agency’s shift in focus has led to concerns about reduced funding opportunities in the sector.
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