Global menu

Our global pages

Close

Brexit SME load schemes

  • Ireland
  • General

24-11-2017

It was reported on 10 November that the European Commission and the Irish Government have established a joint working party to examine how the State can assist SMEs affected by Brexit without breaking EU state aid rules. Ireland has argued that the effect of Brexit on its economy would be highly “asymmetric” compared to other member-states, and this should justify special measures and the bending of EU state aid rules. The Commission on the other hand has argued that there is sufficient flexibility within the system to achieve the same end.

It was further reported on 18 November that the Competitiveness of Enterprises and Small and Medium-sized Enterprises (COSME) fund has been increased to €330m by the European Investment Fund (EIF) and Strategic Banking Corporation of Ireland (SBCI). Further developments were reported on 21 November, when the Irish Government invited applications from commercial lenders to take part in the deployment of funds under the €300m Brexit loan scheme announced by the Government in the recent budget.

Sean Ryan, Partner

This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

< Go back

Print Friendly and PDF

© Eversheds Sutherland 2023. All rights reserved. Eversheds Sutherland is a global provider of legal and other services operating through various separate and distinct legal entities.

Eversheds Sutherland is the name and brand under which the members of Eversheds Sutherland Limited (Eversheds Sutherland (International) LLP and Eversheds Sutherland (US) LLP) and their respective controlled, managed and affiliated firms and the members of Eversheds Sutherland (Europe) Limited (each an "Eversheds Sutherland Entity" and together the "Eversheds Sutherland Entities") provide legal or other services to clients around the world. Eversheds Sutherland Entities are constituted and regulated in accordance with relevant local regulatory and legal requirements and operate in accordance with their locally registered names. The use of the name Eversheds Sutherland, is for description purposes only and does not imply that the Eversheds Sutherland Entities are in a partnership or are part of a global LLP. The responsibility for the provision of services to the client is defined in the terms of engagement between the instructed firm and the client.