Gerald Nash (Louth, Labour) | Oireachtas source

The Deputy may have been at the ploughing championships, as I and others in the House were. There was a very strong representation there from SBCI; its representatives talked to the agricultural community about the possibilities that are available through SBCI. At Taking Care of Business events, the Department includes dozens of agencies which are under its aegis and which operate in the SME space. The SBCI has been very involved in that, not only by having representation at those events but by ensuring they are front and centre at seminars so that SMEs right across the country are familiar with the products available through on lenders. The SBCI offering is being improved and enhanced all the time. It is considered to be a promotional financial institution and is the first of its kind in this country. It has received a mandate from Government to do a particular piece of work and has accessed funding from Europe and the Pension Reserve Fund to do that. At present, it is the only PFI in Ireland and it was created to increase competition where it is needed in the SME sector. It will make a big impact.