Heather Humphreys (Cavan-Monaghan, Fine Gael) | Oireachtas source

We are launching the loan scheme tomorrow. We are funding €14 million from my Department and €9 million is being funded from the Department of Agriculture, Food and the Marine, which makes a total of €23 million. That is to cover the risk. That will lever €300 million in funding, which will be provided by the pillar banks. It will be offered by the Strategic Banking Corporation of Ireland. It will be an overdraft facility of up to three years, with an a interest rate of 4% and 40% of it will be targeted towards the agrifood sector. Those who apply for it will just have to show that 15% of their business is impacted by Brexit. Considerable interest in seeking to have such a loan in place has been indicated to agencies such as Enterprise Ireland and Bord Bia. Application for it can be made across the economy and we expect there to be a big interest in it. It will not open not only to agency clients but to anybody who is impacted by Brexit.