Dáil Éireann Debate, Thursday - 12 July 2018
585. Deputy Charlie McConalogue asked the Minister for Agriculture, Food and the Marine the latest figures regarding the Brexit SME loan scheme launched in 2018 for all food business applicants for items (details supplied) in tabular form. [32194/18]
Amharc ar fhreagraOne of my priorities is to improve access to finance for the agri-food sector. Food Wise 2025 identifies competitiveness as a key theme and includes a recommendation that stakeholders work to “improve access to finance for agriculture, forestry and seafood producers and agri-food companies”.
In March this year, I launched the new “Brexit Loan Scheme” in cooperation with the Minister for Business, Enterprise and Innovation, and the Minister for Finance, which will provide up to €300 million of affordable, flexible working capital finance to Irish businesses that are either currently impacted by Brexit or who will be in the future. The Strategic Banking Corporation of Ireland (SBCI) are administering the Scheme and use the €23million in public funding, along with the EIB Group’s InnovFin SME Guarantee Facility, to leverage the loan fund. Given its significant exposure to the UK market, my Department has contributed €9million, ensuring at least 40% of the fund will be available to food businesses.
The Scheme was opened on the 31st March 2018 and will remain open until 31st March 2020, or until it is fully subscribed. SBCI have informed my Department that the first official data relating to the Scheme will be available on completion of its first quarter, i.e. to 30th June 2018. This information will take a number of weeks to process.
