Sinn Fein has renewed its call to abolish Irish Water after it was revealed an additional €100 million loan had been allocated to the firm, according to the Exchequer Financial Statements for 2015.

Party Leader Gerry Adams said the facility has been a "disaster from day one" and is calling for a "proper public utility" to be established.

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Mr Adams said: "The imposition of water charges has been rejected by the people and the majority of TDs elected to the current Dáil were sent there with a mandate to end domestic water charging. That fact needs to be acted upon, and both Fine Gael and Fianna Fáil need to accept that.

"It should be remembered that of the funding provided by the State, €465million has been spent to date on installing 880,000 water meters which are redundant. That is the scale of the waste in Irish Water."

(CD/LM)