Chambers Ireland welcomes Formal Agreement of €300 million Brexit Loan Scheme

22nd January 2018

Commenting on today’s (22 January 2018) announcement of a formal agreement on the leveraging of a total of €300m for the Brexit Loan Scheme for Irish businesses,

Chambers Ireland Chief Executive Ian Talbot said,

"We welcome today’s formal agreement, which aligns with our consistent recommendations for state-guaranteed supports for Irish businesses to diversify into new markets. Indeed, this was one of our central recommendations in our Pre-Budget Submission 2018 last year, which called for an Export Working Capital Scheme to help SMEs meet the challenges arising from Brexit.

"The Loan Scheme is a clear commitment and a positive step by Government to help Irish businesses prepare for the unique issues facing them in light of Brexit. We also urge businesses to engage with these opportunities. The responses from Irish businesses in last year’s EUROCHAMBRES survey identified Brexit as their number one challenge. While challenges remain, opportunities such as today’s announcement and the ratification of last year’s EU-Japan trade agreement are beginning to manifest.”