Dara Calleary (Mayo, Fianna Fail) | Oireachtas source

I move amendment No. 5:

In page 7, between lines 14 and 15, to insert the following:“(5) (a) The Minister shall work with his colleague in the Department of Finance to facilitate a role for State promotional financial institutions such as the Strategic Banking Corporation of Ireland in the scheme in order to enhance the provision of credit to SMEs directly.

(b) The Minister shall be empowered to give counter-guarantees designed to enable State promotional financial institutions access to match guarantee facilities from EU funding sources such as Horizon 2020 funds earmarked for SMEs and the European Fund for Strategic Investment.”.

We feel there should be a role for SBCI in this scheme enhancement and also with regard to other State promotion of financial institutions and EU funding. It is obviously an aim shared by the Government and in that context, given that it is effectively the same amendment as amendment No. 22, I am happy to withdraw it.