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

As outlined in my initial reply to the Deputy's question, there have been 523 applications for the loan scheme, of which 472 have been approved. That a number of businesses which have had their applications approved have not proceeded to draw down the loan is a reflection of the uncertainty that exists in the business environment. People require certainty before they make investment decisions, which is understandable. The loan scheme is expected to last until 2020 and, therefore, quite a period of time remains.

It is one of three schemes that we have run. We have run the €150 million working capital scheme, this €300 million loan scheme and there will be a third scheme, as the Taoiseach mentioned earlier, details of which will be made available later this week. There has been a comprehensive response to provide access to finance. The loan scheme is just one part of a comprehensive strategy in the context of business needs, particularly agrifood, which are firmly rooted in the context of the environment in which they operate, Brexit, exposure to the UK market and so on. It has been a substantial, coherent response and, as the Taoiseach indicated, there will be further developments on the other loan scheme soon.

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