Oireachtas Joint and Select Committees

Tuesday, 9 March 2021

Public Accounts Committee

Strategic Banking Corporation of Ireland: Financial Statements 2019

9:30 am

Mr. Ian Black:

I thank the Deputy. Our funding is only used for eligible purposes, that is, to lend to Irish SMEs. In a sense, if the company has other resources, they are not our resources. We are stating clearly that the funding provided by the SBCI can only be used for eligible purposes, which are lending to SMEs and passing on the benefit of this lower-cost lending to those SME businesses.

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