Robert Troy (Longford-Westmeath, Fianna Fail)
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80. To ask the Minister for Enterprise, Trade and Employment if he will consider introducing an export credit guarantee scheme. [43435/24]

Peter Burke (Longford-Westmeath, Fine Gael)
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My Department regularly explores ways to support businesses and to create an environment which stimulates their growth. This includes the potential to adopt new methods which may prove useful to enterprises such as the possibility of an export credit insurance scheme.

A state supported export credit insurance scheme would only be permissible, under EU rules, where private sector insurance is unavailable and where there is a clear market failure. While my department currently offers state supports for exporters such as training, it is understood that export credit insurance is widely available from the private market.

In recent years, my Department examined the availability of both export and domestic trade credit insurance in the context of the COVID-19 crisis. In 2021, my Department commissioned a review to assess the potential need for a state-backed export credit insurance scheme. This review involved engagement with trade credit insurers and other relevant stakeholders.

This review concluded that sufficient levels of export credit insurance are available from the private market in Ireland found and at market prices.

It is important that Government intervention is focused on those areas where there is a market failure.