Joe Costello (Dublin Central, Labour)
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Question 70: To ask the Tánaiste and Minister for Enterprise, Trade and Employment when she expects to receive a response from the EU to the Government's proposed €100 million enterprise stabilisation fund; and if she will make a statement on the matter. [19823/09]

Mary Coughlan (Donegal South West, Fianna Fail)
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On 14 April 2009, the European Commission approved a scheme for Ireland, under its Temporary Framework on State aid. The Temporary Framework, which was introduced in response to the current economic crisis, gives EU Member States increased flexibility to give assistance to companies in a variety of forms e.g. grants, subsidised loans.

The approved scheme is based on the provision in the Framework that allows aid up to €500,000 to be given per company. It is a condition of the Temporary Framework that the scheme can only apply to companies which were not in difficulties on 1 July 2008, that is before the advent of the global economic crisis. The scheme is limited in time to 2009 and 2010.

The vehicle that is being used to provide support to companies under the scheme is the Enterprise Stabilisation Fund. The Fund, which is being administered by Enterprise Ireland, will provide an additional €100m in assistance to companies to strengthen their business base. The Fund will provide targeted support for internationally trading companies; particular attention is being paid to supporting viable small and medium sized enterprises engaged in exporting. Funding will be provided primarily in repayable form.