Michael Creed (Cork North West, Fine Gael) | Oireachtas source

It is our intention to develop the scheme as quickly as possible. It is not an easy scheme to design. The issue that must be worked out is whether it is for working capital or for capital investment. I am engaged with all the actors, including the pillar banks, arising from their experience of the previous loan fund, which I accept was not targeted at the fisheries sector. This one will be, and we can benefit from their experience and where they see the market shortfall. I am talking to the SBCI about the interest rate relative to the size of the fund. Such issues require a lot of consideration before we bring a product to market but we will do so as quickly as possible.

See this speech in context