Pádraig Mac Lochlainn (Donegal, Sinn Fein)
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345. To ask the Minister for Agriculture, Food and the Marine how officials from his Department and Bord Iascaigh Mhara can engage with the Strategic Banking Corporation of Ireland to ensure that fishermen can avail of financial supports and loans that compliment financial assistance from Bord Iascaigh Mhara or his Department and that help those fishermen to sustain their businesses in a challenging time for the industry. [37895/24]

Charlie McConalogue (Donegal, Fianna Fail)
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The European Maritime, Fisheries and Aquaculture Fund (EMFAF) 2021-2027 is the primary funding programme for the seafood sector. It is co-funded by the Government of Ireland and the EU. The Programme delivers a wide range of supports for aquaculture, fisheries and seafood processing through a suite of 10 schemes, including the Young Fishers Scheme and Sustainable Fisheries Scheme.

On access to finance, my Department works closely with the Department of Enterprise, Trade and Employment, the Department of Finance and the Strategic Banking Corporation of Ireland (SBCI) to provide access to finance supports to small and medium businesses in Ireland, including farmers, fishers, foresters and food businesses. Access to finance is vital in helping businesses to invest and grow and to deal with economic challenges. Economic disruption arising from events such as Brexit, COVID-19 and, most recently, rising costs exacerbated by the illegal invasion of Ukraine, have increased the need for SME supports.

The €1.2 billion Ukraine Credit Guarantee Scheme (UCGS) supports businesses to effectively meet their liquidity and working capital needs arising from the impacts of the conflict in Ukraine, i.e. businesses with increased costs. It was preceded by similar schemes in response to COVID-19 and Brexit. Fishers and the seafood sector generally are eligible for UCGS.

The €500m Growth and Sustainability Loan Scheme is for long-term investment and enables Irish SMEs and Small Mid-Caps invest in the growth and resilience of their business and contribute to climate action and environmental sustainability. 70% of the overall funding is allocated for strategic investments with a view to increasing productivity and competitiveness, underpinning future business sustainability and growth. A minimum of 30% of the lending volume will be targeted towards Climate Adaptation and Environmental Sustainability purposes with the aim of helping SMEs to invest in sustainability and energy efficiency. Fishers and the seafood sector generally are eligible for GSLS.

My Department is open to further discussions with the SBCI on any new proposals to assist fishers and the seafood sector.