Fitzgerald Pledges New Loan Guarantee Scheme

06 Sep 2017 | 10.43 am

Fitzgerald Pledges New Loan Guarantee Scheme

Enterprise minister says other state aids on agenda

06 Sep 2017 | 10.43 am

An estimated 600 Irish companies will meet with Enterprise Ireland’s 130 Market Advisors from all 32 of Enterprise Ireland’s overseas offices at the organisation’s International Markets Week event being held in the RDS in Dublin, which takes place from today to Friday September 8.

The event has a Brexit Zone designed to offer practical advice and assistance to companies across a range of issues relating to Brexit, including diversification strategy and managing currency fluctuation.

Opening the event today, enterprise minister Frances Fitzgerald stated: “Despite the record export figures last year, growth in exports to the UK has declined. The importance of the currency situation cannot be understated and of course there are other immediate issues such as general business uncertainty and decisions about whether to invest or not.

“I can assure you that the government is fully alive to these challenges. For example, we are working on proposals to bring in a working capital loan guarantee scheme to alleviate the cashflow problems that companies are facing. And I am working with Minister for Finance Paschal Donohue to ensure that 2018 Budget will support companies in as many ways as possible.

“I recently met with the EU’s chief negotiator on Brexit, Michel Barnier, and discussed with him Ireland’s concerns in relation to enterprise and trade and highlighted the types of solutions that might be considered to support firms that are especially impacted by Brexit.

“If needed, there is a lot that can be done within the existing EU State Aid framework. Should issues arise that require an approach that does not fit within the existing rules, we will move quickly to advance this with the Commission.”

 

Photo (l-r): Leo McAdams of Enterprise Ireland, Frances Fitzgerald, EI CEO Julie Sinnamon and minister Pat Breen. (Pic: Chris Bellew /Fennell Photography)

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