Tuesday, 17 December 2019

Questions (117)

Catherine Murphy

Question:

117. Deputy Catherine Murphy asked the Minister for Finance if the external review of the Strategic Banking Corporation of Ireland has been completed by the National Treasury Management Agency appointee; if he has received a copy of the review document; if so, if he will publish the report in full and or make it available; and if he will make a statement on the matter. [52709/19]

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Written answers (Question to Finance)

The Strategic Banking Corporation of Ireland (SBCI) is Ireland’s national promotional institution. The purpose of the SBCI is to deliver effective financial supports to Irish SMEs to address gaps and potential failures in the Irish SME finance market as well as encouraging competition and innovation, and facilitating the efficient and effective use of EU resources and financial instruments. The SBCI achieves this through the provision of low cost liquidity and risk-sharing guarantee activities that support the provision of appropriately priced, flexible funding to Irish SMEs. 

Following a public procurement process, the SBCI appointed EY on the 9 May 2019 to perform an external strategic review of the SBCI. EY’s task is to complete a strategic review of the SBCI as a policy delivery mechanism and national promotional institution within the context of the state’s suite of supports for SMEs.

I am advised by the SBCI that the EY Review is currently being finalised and is being considered by the Board of the SBCI in the context of the development of the SBCI’s new Strategic Plan. The timing of the publication of the Review and the Strategic Plan will be determined by the Board once they are finalised but it is expected to be early in the New Year.