Mr. Nick Ashmore:

Its deployment was completed in the middle of last year. That mechanism is now finished and the banks are not offering it. Effectively, what we are now doing is providing guarantees in lending. The active mechanism is the credit guarantee scheme which has been in place since 2011 but which has gone through several changes. It is being revamped under the new 2016 legislation. The Minister for Business, Enterprise and Innovation has signed two of the agreements, while the third is close to being signed. The new version of the scheme offers a slightly more substantial guarantee and is much more efficiently operated. We believe it will be more effective in deployment. The SMEs which are declined credit or cannot get the credit they want can apply under the credit guarantee scheme. It will take up to 80% of the risk on the loans.