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European Investment Bank Unveils €300m Lending Programme For Irish Companies

Published on Sep 7 2017 11:51 AM in Retail tagged: Trending Posts / Paschal Donohoe / Ibec / European Investment Bank / EIB / Danny McCoy / Minister for Finance and Public Expenditure and Reform

European Investment Bank Unveils €300m Lending Programme For Irish Companies

The European Investment Bank (EIB) has today (7 September) announced a new lending programme, to the value of €300 million, for Irish companies, at an event that took place at the Ibec headquarters in Dublin.

According to a statement, this move will also include a new Ibec partnership to strengthen support for smaller firms and to aid private sector investment in Ireland.

Paschal Donohoe, The Minister for Finance and Public Expenditure and Reform, said that this 'ground-breaking' initiative from the EIB will provide a 'significant investment boost' to midcap companies based in Ireland.

Donohoe highlighted, "Previously, the EIB’s direct loan offerings in Ireland would have focused on larger corporates. However, with this programme the EIB is specifically targeting and directly lending to smaller, midcap size companies."

Over the last decade the EIB has reportedly provided more than €1.2 billion for investment by Irish companies, including credit lines with SBCI, AIB, Bank of Ireland, Ulster Bank and Rabobank.

Danny McCoy, Ibec, CEO, stated: "The EIB’s new lending programme for Irish business is a welcome source of new and alternative investment. This programme, and the deeper cooperation between Ibec and the EIB, demonstrates the EIB’s continued commitment to the Irish market."

© 2017 - Checkout Magazine by Donna Ahern

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