The Minister for Finance has confirmed Dr Michael Somers as chairman of the new National Development Finance Agency.
Dr Somers is chief executive of the National Treasury Management Agency (NTMA).
The other four members of the board are Mr Jim Farrell, director of operations in NTMA; Ms Ann Fitzgerald, secretary general of the Irish Association of Investment Managers; Mr Anthony Jones, formerly of Enterprise Ireland; and Mr Peter McManamon, executive vice-president of Parhus Technologies.
The board will choose a chief executive for the agency soon.
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Mr McCreevy described the agency as "an important part of this Government's resolve to address the country's infrastructural deficit".