Taoiseach welcomes Bank of Ireland Fund in support of small and medium enterprises

The Taoiseach Mr. Brian Cowen T. D., today noted the announcement by Bank of Ireland of a new €250m Business Support Fund to assist small and medium enterprises.

The Taoiseach said "The challenging economic conditions have no doubt caused great difficulties for our small to medium businesses. The Minister for Finance had asked the financial insitutions to examine initiatives of this nature which would assist these businesses so today's announcement by Bank of Ireland, and their prompt response, is very much welcome. This Business Support Fund will assist these business' credit situation and considerably ease the pressure on their cash flow."

I also understand that other financial institutions are formulating similar initiaitives as part of their business plans.

Ends

1st December 2008