AIB launches €200m export fund and new SME team
ALLIED Irish Banks has today launched a new €200m fund for exporting firms as well as a new nationwide team to assist SME exporters.
A survey by the bank also showed that with exports accounting for almost 40pc of total SME turnover last year, a total of 65pc of respondents expect improved export sales, while 30pc plan to export to new markets in 2014.
Among these companies, the US is cited as the top destination (27pc), followed by Germany (16pc) and France (13pc).
Almost 40pc of the SMEs say that staff levels will increase, while close to two in three expect an increase in turnover this year.
The new €200m fund will support the provision of multiple export finance products including working capital and loan finance for Irish exporters, the bank said today.
The Exports Outlook Report was produced in association with the Irish Exporters Association, Bord Bia and IPSOS MRBI is the eighth in a series of reports commissioned by AIB across key areas and sectors of the economy.