Friday 22 September 2017

More than 5,000 exporters to benefit from credit guarantee scheme

Thomas Molloy

Thomas Molloy

EXPORTERS are set to benefit from a new scheme to guarantee some of their output from next week.

The scheme, which has been previously announced, could benefit 5,600 businesses and support the creation of 4,000 jobs over the next three years, the Government said at a press conference today.

The Credit Guarantee Scheme promises to repay banks 75pc of a loan to a small exporter if a deal goes wrong. Up to €150m a year will be guaranteed and the State estimates that the guarantee will cost €6.4m a year.

Taoiseach Enda Kenny reiterated yesterday that job creation is the Government’s most important task. He unveiled the third report on a scheme to create jobs, dubbed the Action Plan for Jobs, which contains a check list of small tasks aimed at improving job creation.

"Getting Ireland working again remains the top priority of the Government and in the Action Plan for Jobs we have an essential tool in building the new economy,” he said. “Through the action plan we will add to the growing trend of private sector job creation which builds on the 17,000 private sector jobs created since March 2011. All actions scheduled for delivery in the first and second quarter of 2012 have been successfully delivered and 58 out of 67 measures scheduled for the third quarter have been implemented. The focus now is to get all remaining measures delivered before the end of the year.

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