Dáil Éireann Debate, Wednesday - 2 November 2016
466. Deputy Sean Sherlock asked the Minister for Jobs, Enterprise and Innovation if her attention has been drawn to the COSME, Competitiveness of Enterprises and Small and Medium-sized Enterprises, programme improving access to finance for small and medium-sized enterprises; and the engagement her Department has had, if any, with State agencies and financial institutions on this matter. [32741/16]
Amharc ar fhreagraThe European Union Programme for the Competitiveness of Enterprises and Small and Medium-sized Enterprises (COSME) runs from 2014 to 2020, with an overall budget of €2.23bn.
The objectives of COSME includes facilitating access to finance for Small and Medium-sized Enterprises (SMEs) and to increase the sustainable competitiveness of EU companies and help small businesses operate outside their home countries. COSME also aims to create an environment favourable to business creation and growth, and encourage an entrepreneurial culture in Europe
I can confirm that my Department has been actively engaged with the European Commission, the Department of Finance and the Irish financial intermediaries in relation to engaging with the financial instruments available under the COSME programme.
I can also confirm that the Strategic Banking Corporation of Ireland has obtained initial approval from the European Investment Fund and should reach final agreement on a financial instrument supported by the COSME programme in the next few months.
This will support the provision of additional funding to SMEs in Ireland and ensure that they can access funding in order to expand, service new markets and grow employment.
