Saturday April 4, 2020

The state's mammoth €6.8 billion plan to square the SME credit circle

The SME sector is finding bank lending in short supply, but the ISIF could help alleviate some of the burden, writes Philip Connolly.

20th April, 2014
Sinead Heaney -- BDO is in charge of a €75 million SME fund raised in partnership with Enterprise Ireland and the Bank of Ireland. Over the next three years Heaney plans to invest between €2 million and €10 million in 15 companies.

When Eugene O'Callaghan addressed the assembled heavyweights of Irish finance last month, he repeated the rhetorical idiom of the need to become a ''hunter where once there had been a ''gatherer.

O'Callaghan, the director of the €6.8 billion fund which has emerged after the liquidation of a large proportion of National Pension Reserve Fund (NPRF), was using the metaphor to describe a fundamental shift in focus.

Effectively unveiling the €6.8 billion Ireland Strategic Investment Fund...

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