Flooding: Businesses to get initial emergency payments of up to €5kNiall O'Connor
BUSINESSES affected by flooding in the aftermath of Storm Desmond are to receive initial emergency payments of up to €5,000 under Government plans due to finalised today.
The money will be dispensed from a €5m fund and targeted at businesses that don't have flood insurance.
It's understood that payments will be made electronically over the next three weeks as part of the Coalition's response to the flood crisis.
Flood-hit businesses availing of the emergency funding will not be asked to provide receipts.
"This is an unvouched system so as to ensure there is as little bureaucracy as possible and that those who need help can receive it before Christmas," said a Government source.
It's understood a second phase of funding, which will be vouched, will be made available in the coming weeks.
In theory, the worst hit businesses in the country will be a position to avail of up to a further €15,000 as part of this phase.
Defence minister Simon Coveney and OPW minister Simon Harris are due to inspect further flood hit areas in the coming days.