Oireachtas Joint and Select Committees

Tuesday, 9 June 2020

Special Committee on Covid-19 Response

Reopening the Economy: Supports for Business

Mr. Declan Hughes:

We are very conscious of helping businesses through the first six months. The three-month break was important and the Minister, Deputy Humphreys, agreed that with the Minister for Finance and for Public Expenditure and Reform, Deputy Donohoe, around 11 or 12 March. That was an important early measure that gave businesses some breathing space and that is in place until September. Meanwhile, we have been negotiating the expansion of the SBCI schemes, the future growth loan scheme and the working capital scheme. One of the specific new additions to the future growth loan scheme is that it can be used for the refinancing of existing loans.

That is with the agreement of the European Investment Bank, EIB. We will bring that forward as part of the new scheme and the expansion. We are looking to expand it, as the Minister announced, going from €200 million to approximately-----

Comments

No comments

Log in or join to post a public comment.