Oireachtas Joint and Select Committees

Wednesday, 23 October 2019

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

Update on Brexit Engagement: Minister for Business, Enterprise and Innovation

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

The Deputy is asking about the mix of funding. The mix of funding means that, in a no-deal scenario, the rescue and restructuring fund will be €42 million of bespoke loans or equity. The transition fund provides €45 million of bespoke grants, loans and equity, or all of them. The transformation fund is €8 million of bespoke grants. The emergency Brexit fund for microenterprise is €5 million of repayable grants. This is a suite of supports available which were announced in the budget and with different aspects, whether comprised of loans, grants or equity. It depends what suits the company involved. These supports do not prescribe a certain amount in grants, equity and loans because every individual application will be different. Enterprise Ireland is the expert on this matter and it will assess the company in question and decide what suite of supports best suits it. Grants are available through the local enterprise offices. Some of them are repayable or part repayable. There is no separate figure for any type of funding, it depends on what best suits a particular company.

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