Gerald Nash (Louth, Labour) | Oireachtas source

I thank Deputy Calleary for raising this proposed amendment, which he also tabled on Committee Stage. As I indicated then, I am not accepting it because this specific area is not appropriate for such legislation. The Strategic Banking Corporation of Ireland Act 2014 does not empower the corporation to provide for loans direct to SMEs, as the Deputy knows, and any change to this is a matter for the Minister for Finance. It is achieved through on-lenders. The approach of the Bill will work to broaden out the attraction of the scheme and the type of financiers that could be involved in the credit guarantee scheme.

More generally, I assure Deputy Calleary that my Department, the banks and other finance providers and the SBCI will actively promote the revised system and ensure that businesses are aware of the possibilities available under the new enhanced schemes, and that the Department will report publicly and transparently on progress in this regard on a quarterly basis.

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