Dáil Éireann Debate, Thursday - 20 May 2021
374. Deputy Matt Carthy asked the Minister for Agriculture, Food and the Marine the level of funding that is to be provided to the Strategic Banking Corporation of Ireland from his Department in 2021; if these funds relate to the extension of the agriculture cash flow support loan scheme or a different scheme; the total amount of new credit that will be available to borrowers to be drawn down; and if he will make a statement on the matter. [27241/21]
View answerSome €9.1 million is due to be paid to the Strategic Banking Corporation of Ireland (SBCI) from my Department’s budget this year. €3.4 million relates to the Future Growth Loan Scheme, which is nearing capacity. €5.7 million relates to the new Brexit Impact Loan Scheme (BILS), which will have a capacity of up to €330 million in new lending. The Department's funding ensures that up to 40% of the Scheme will be available to the agri-food sector.
The Brexit Impact Loan Scheme will put in place important support for businesses to ensure that they have access to finance during this pandemic and to help deal with the challenges brought about by Brexit. Development of the Scheme is progressing with supporting legislation currently proceeding as a priority through the Houses of the Oireachtas. On 6th May, the SBCI issued an Open Call for lenders to deliver the BILS and it is hoped that it can be launched shortly.
