Dáil Éireann Debate, Thursday - 29 November 2018
171. Deputy Eugene Murphy asked the Minister for Agriculture, Food and the Marine the number of applications received, approved and processed, respectively in relation to the low cost cashflow loan scheme for farmers announced in budget 2018, by county in tabular form; and if he will make a statement on the matter. [49862/18]
Amharc ar fhreagraThe Future Growth Loan Scheme is being developed by my Department and the Department of Business, Enterprise and Innovation in partnership with the Department of Finance, the Strategic Banking Corporation of Ireland (SBCI) and the European Investment Fund (EIF).
It will be delivered through participating finance providers and make up to €300 million of long-term investment loans available to eligible Irish businesses, including the primary agriculture, agri-food & seafood sectors. The loans will be competitively priced and will be for terms of 8-10 years.
The fund is leveraged by exchequer funding of €62 million, of which 40% or some €25million will be provided by my Department. My Department’s contribution announced as part of Budget 2018 will be paid to the Scheme by the end of 2018. The Scheme is expected to launch in early 2019.
