Dáil Éireann Debate, Wednesday - 16 November 2016
252. Deputy Sean Sherlock asked the Minister for Jobs, Enterprise and Innovation further to Parliamentary Question No. 472 of 2 November 2016, if she will expand in greater detail on the type of projects that have been funded under InnovFin in the successful application by a bank (details supplied); and if she will make a statement on the matter. [35350/16]
Amharc ar fhreagra253. Deputy Sean Sherlock asked the Minister for Jobs, Enterprise and Innovation further to Parliamentary Question No. 472 of 2 November 2016, if she will expand in greater detail on the type of projects that have been funded under InnovFin in the successful application by a company (details supplied); and if she will make a statement on the matter. [35351/16]
Amharc ar fhreagra254. Deputy Sean Sherlock asked the Minister for Jobs, Enterprise and Innovation further to Parliamentary Question No. 472 of 2 November 2016, if she will expand in greater detail on the type of projects that have been funded under InnovFin in the successful application by a company (details supplied); and if she will make a statement on the matter. [35352/16]
Amharc ar fhreagraI propose to take Questions Nos. 252 to 254, inclusive, together.
The following information regarding the EIF/EIB agreements with Bank of Ireland and enet (Granahan McCourt Capital) is publicly available. More information on the FINEOS agreement is not publicly available and further information on these agreements cannot be provided as it may be commercially sensitive to the companies.
The Bank of Ireland-EIF agreement allows Bank of Ireland to provide finance to innovative companies in Ireland for a total of €100 million over the next 2 years with the support of a guarantee provided by the EIF and backed under Horizon 2020, the EU Framework Programme for Research and Innovation. This InnovFin SME guarantee enables Bank of Ireland to offer innovative companies additional financing at favourable conditions. The aim of the InnovFin SME Guarantee is to encourage financial institutions to lend to SMEs and small mid-caps in need of investment and/or operating capital to finance research, development and innovation activities, with EU financial support.
In the enet (Granahan McCourt Capital)–EIB agreement, the EIB agreed to provide an initial investment of €12 million to support expansion of next generation fibre optic telecom infrastructure across Ireland by enet, an open access network operator owned by Granahan McCourt Capital and partners. This investment allows enet to develop next generation telecoms infrastructure over the coming years and builds on their current investment programme for the delivery of 'Fibre to the Business' networks in a number of Irish towns and cities.
