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Extension to the Rescue and Restructuring Aid scheme

  • Ireland
  • General

13-07-2018

An extension to the Rescue and Restructuring Aid scheme has been approved by the European Commission. This provides for a further €10 million of State support to companies experiencing acute liquidity needs as a result of Brexit. This is in addition to the original €10 million announced in November 2017. Under the extended scheme, which will run until 2020, Enterprise Ireland, will be able to offer both rescue aid and temporary restructuring aid to SMEs in financial difficulty or experiencing acute liquidity needs. The support will take the form of loans repayable over a period of 18 months and will be available to SMEs active in all sectors of the economy, with the exception of the steel, coal and financial sectors. The Commission has found that the extension of the scheme is compatible with EU State Aid rules.

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.

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