Peter Burke (Longford-Westmeath, Fine Gael)
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We have a number of funding streams and loans schemes with the pillar banks. Over recent weeks, I have met with a number of the pillar banks. I am due to meet with Bank of Ireland next week to try to assess what the level of overdraft utilisation is across the economy and what sectors are potentially under pressure or feeling the pain of increased costs. We have done that piece of engagement. We have a number of schemes already. We increased the microfinance loan working capital up to €50,000 through our SME package. We also have the sustainability loan scheme, which is very important for investments from €25,000 up to €3 million. This has a very strong take up with institutions. Primarily, I was trying to meet them to see what level of take-up the schemes have and to ensure their feet are held to the fire in ensuring the SME sector has access to them. The Ukraine guarantee facility was also heavily utilised. There was over €1 billion in that scheme. We are providing finance through our banks, which is very important. I underscored that through the SME package with Microfinance Ireland. We also brought in the main banks and we continue to engage with them to see what the pressures are. Approximately 14 credit unions are using the Ukraine guarantee facility as well. We are trying to bring it to all areas of the economy and right into the heart of the SME sector.