Government signs funding agreement with the European Investment Fund (EIF) for the growth and sustainability loan scheme


December 2022

On 5th December 2022, The Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar TD, the Minister for Agriculture, Food and the Marine, Charlie Mc Conalogue TD, and the Minister for Finance Paschal Donohoe TD, have signed an agreement with the European Investment Fund (EIF). The finalisation of this agreement is a key milestone in the establishment of a new long-term loan scheme for SMEs which will be underpinned by resources from the European Investment Bank Group.

The €500 million “Growth and Sustainability Loan Scheme” will make competitively priced loans of between €25,000 and €3 million available to SMEs, including farmers and fishers and small mid-caps, for terms of up to ten years, with loans of up to €500,000 available unsecured. The scheme will target a minimum of 30% of the lending volume towards Environmental Sustainability purposes with the aim of encouraging SMEs to take positive actions in support of the climate change agenda.

The scheme will be delivered by the Strategic Banking Corporation of Ireland (SBCI) through participating finance providers.

Find out more here.