The Government is considering increasing the sale of State assets if the Troika agrees to allow a substantial proportion of the money to be used for investment.

The Government is due to announce further details of a new unit which will be part of the National Treasury Management Agency to manage the sale of assets and the investment of the proceeds.

The unit will manage holdings in ESB, Bord Gáis, Eirgrid, Bord na Móna and Coillte.

Fergus O'Dowd, Minister for State for the New Era project, will have responsibility for the new unit.

The coalition has committed to asset sales of €2bn.

However, the International Monetary Fund is pressing the Government to sell €5bn of assets.

Sources have told RTÉ News if an agreement can be reached on the use of the money from disposals, the level of sales of State assets could be significantly increased.

Minister for State Brian Hayes said the Government was determined to use money raised for investment.

He added the Troika may have a different view but negotiations were continuing.

