Dáil Éireann Debate, Tuesday - 13 February 2018
485. Deputy Eugene Murphy asked the Minister for Agriculture, Food and the Marine the timeframe for the roll-out of the farmer low cost loans scheme announced in budget 2018; and if he will make a statement on the matter. [6908/18]
Amharc ar fhreagraThe successful "Agriculture Cashflow Loan Scheme" has provided a template for publicly-assisted loan schemes. This includes the "Brexit Loan Scheme", which I expect to launch shortly with my colleague the Minister for Business, Enterprise and Innovation.
The Scheme will make up to €300 million of affordable, flexible working capital finance available to SMEs and mid-cap businesses that are either currently impacted by Brexit or who will be in the future. Given their unique exposure to the UK market, my Department’s funding ensures that at least 40% of the fund will be available to food businesses (DAFM is providing €9 million out of the total €23 million in public funding). The new Scheme will be delivered by the Strategic Banking Corporation of Ireland (SBCI) through commercial lenders.
I also announced in Budget 2018 that my Department is considering the development of potential Brexit response loan schemes for farmers, fishermen and for longer-term capital financing for food businesses, for which I have secured €25 million of funding in 2018. I will announce more details as they become available.
