Dáil Éireann Debate, Tuesday - 16 June 2020
449. Deputy John Lahart asked the Minister for Business, Enterprise and Innovation the steps she has taken to ensure businesses can access the proposed European Recovery and Resilience Facility which offers opportunities to Ireland with supports available of over €300 billion in grants and up to €250 billion in loans; and the preparations she has made to ensure that businesses can access funds and loans. [11347/20]
View answerI can confirm to the Deputy that I, my Department and the wider Government will be diligently working with the European Commission to ensure Irish businesses will have access to the new Recovery and Resilience Facility. It will provide large-scale financial support to reforms and investments undertaken in every Member State including Ireland, with the aims of mitigating the economic and social impact of the coronavirus pandemic. The Facility also has the aim of making the EU economies more sustainable, resilient and better prepared for the challenges posed by the green and digital transitions. I will be working to ensure Ireland is at the forefront of these changes to the business environment.
The fund will assist Ireland in addressing the challenges identified in the European Semester, in areas such as competitiveness, productivity, environmental sustainability, education and skills, health, employment, and economic, social and territorial cohesion. It is important to note the focus on the green and digital transition agendas which will require considerable focus by the Government to assist Irish businesses, particularly SMEs. The Facility is focused on longer term reforms and will help Irish businesses to create and sustain their firms and their employees. It will be a mechanism for the businesses of the Member States of the European Union to strengthen their position in the global market.
The Facility will work in tandem with the range of Commission measures already developed in response to the current coronavirus pandemic such as amendment to the cohesion policy regulation, the Coronavirus Response Investment Initiatives and SURE. I will be working with my Government colleagues to make sure Ireland is best placed to take advantage of these considerable funds and Irish businesses will reap the reward of this engagement.
