Michael McGrath (Cork South Central, Fianna Fail)
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103. To ask the Minister for Jobs, Enterprise and Innovation his assessment of the impact of the Credit Guarantee Act to date; the amount of jobs that have been supported by this investment to date; and if he will make a statement on the matter. [18670/13]

Richard Bruton (Dublin North Central, Fine Gael)
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The Credit Guarantee Scheme (CGS) became operational on 24 October 2012 and as of the 28 March 2013, 24 CGS facilities were approved resulting in an additional €3,131,600 in business lending being approved by the banks. It is expected that 181 new jobs will be created and 25 jobs will be maintained as a result of the current guaranteed lending. Quarterly progress reports will be published on my Department’s website www.enterprise.gov.ie. The progress report detailing the analysis and performance of the CGS for the quarterly periods ending 31 December 2012 and 31 March 2013 are now available on my Department’s website. I have committed to conducting a full review after one year’s operation of the scheme and at that point I will fully assess the impact of the scheme.