1059. Deputy Michael Healy-Rae asked the Minister for Enterprise, Tourism and Employment his views on a scheme (details supplied) [62465/26]

1060. Deputy Michael Healy-Rae asked the Minister for Enterprise, Tourism and Employment the timeframe for the opening of the next tranche or the next SBCI-backed scheme. [62464/26]

I propose to take Questions Nos. 1059 and 1060 together.

The Government has approved an expansion of the Growth and Sustainability Loan Scheme (GSLS) and extended the Scheme for a further three years to 30 June 2029. Subject to the completion of the necessary arrangements, it is expected that the first participating lenders will launch the expanded Scheme in Autumn 2026.

The original GSLS, which launched in September 2023, has been a significant success. The Scheme provided SMEs, farmers, fishers and foresters with access to competitively priced, long-term finance to support investment, growth and sustainability objectives. Demand was exceptionally strong, with participating lenders fully utilising their allocations before the Scheme’s original expiry date of 30 June 2026, demonstrating the clear need for continued access to long-term investment finance.

The expanded GSLS will continue to support eligible businesses by providing affordable finance for strategic investment, business growth, productivity improvements and sustainability-related projects.

Ensuring eligible businesses are aware of the expanded Scheme will be an important part of its rollout. Details of the expanded Scheme will be published at launch on the websites of my Department, the Department of Agriculture, Food and the Marine, the Department of Finance and the Strategic Banking Corporation of Ireland (SBCI). Participating lenders will also publish details of the Scheme and application process through their own channels.

The launch will be supported by a coordinated communications campaign, including national and regional media engagement and social media activity, to maximise awareness among eligible businesses, farmers, fishers and foresters. My Department is working closely with the SBCI and the European Investment Bank Group to finalise the remaining arrangements and bring the expanded Scheme to market as quickly as possible.