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Irish SMEs secure €86 million in EU financing – Seán Kelly MEP hosts event to highlight financing opportunities for businesses

Published: Mon, 12 December 2016

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“Irish SMEs have secured €86 million in European Investment Fund (EIF) financing with intermediary banks so far and there are more opportunities to be seized,” said Seán Kelly MEP ahead of hosting an event on Mobilising Investment in Dublin this Friday, 9th December (15:00-17:30, European Parliament office, Dublin). Key speakers from the European Commission, European Investment Bank, IBEC and more will join Mr Kelly in outlining EU financing available to Irish businesses and how best to seek such opportunities.

 The European Fund for Strategic Investment (EFSI) aims to mobilise €315 billion in additional investment across the EU. Under the EFSI, the EIF is expected to trigger €421 million in investments Ireland to support some 2,880 Irish SMEs & start-ups. The aim of Friday’s conference is to build a greater awareness of the facilities available to Irish business and also provide practical advice about how to seek such financing,” Mr Kelly continued.

Giorgio Chiarion Casoni, Head of Unit for Financing of Climate Change, Infrastructure and Euratom at DG Economic and financial affairs, will represent the European Commission in outlining the EU Investment Plan. Fergal O’Brien, Head of Policy and Chief Economist at Ibec, and Maurice Crowley, Director of Banking and Payments at the Banking and Payments Federation of Ireland will also contribute. Andrew McDowell, Vice-President of the European Investment Bank will also address attendees.

“I think the timing of Friday’s event is important. Ireland has experienced strong economic growth in the past few years, however certain political developments, particularly Brexit, are set to have a profound impact on our economy. For this reason, it is crucial that we seek to mobilise the investment that can help to shield us against the potential negative effects of the UK’s decision. I hope that this meeting can provide an opportunity to help lay the groundwork for this process.”

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