Richard Bruton (Dublin North Central, Fine Gael) | Oireachtas source

The European Investment Bank will act as guarantor for the likes of microfinance but in the case of most of these bigger funds it expects the State to put up the equity piece so the State is taking the biggest slice of the risk. It is a case of deciding whether this is a better deal than can be achieved with other financial instruments. The Minister for Finance, Deputy Michael Noonan, is more informed on this matter than I am. It has not been as straightforward a source of substantial SME funding as one might think but the strategic investment bank is a major effort to draw down more of that funding. I refer to funds based in NPRF and Enterprise Ireland which have been formed by the Exchequer in partnership with private investors. There may be scope in further areas which the Minister for Finance is exploring. The thinking behind the strategic investment bank is to draw down more of those funds.