A former Sligo Leitrim TD says the loss of Paschal Donohue will be keenly felt by the Fine Gael Party.

The Finance Minister is set to resign from the Cabinet today.

Donohoe told colleagues this morning he has been offered a position at the World Bank which he intends to accept.

Donohoe is the longest continuously serving Cabinet Minister in this Government and has been linked to financial positions on the world stage for a number of years.

Former Sligo Leitrim Fine Gael Deputy, Tony McLoughlin says it was likely that Paschal Donohue would go down this route.

He says his loss will be felt by the party with many seeing him as a potential future leader.