Written answers

Tuesday, 3 November 2009

Department of Finance

Small and Medium Enterprises

8:00 pm

Photo of Joe CostelloJoe Costello (Dublin Central, Labour)
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Question 162: To ask the Minister for Finance the way the National Asset Management Agency proposal, through the draft NAMA business plan in particular, will get credit flowing to small and medium enterprises here; and if he will make a statement on the matter. [37704/09]

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Minister, Department of Finance; Dublin West, Fianna Fail)
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Specifically in relation to the NAMA Bill 2009, I will be introducing a Report Stage amendment to the Bill to provide a power to issue guidelines to the participating institutions on lending practices and procedures to improve the flow of credit to SMEs and, if necessary, other sectors. The power will be a wide ranging one and will allow for a response adapted to the particular circumstances of different institutions and sectors. This approach recognises that this is a complex situation and allows for a flexible response to changing credit needs.

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