Minister Kelleher holds first regional meeting about access to Bank Credit

curlynettie

where are these meetings? and can we go?!


Minister Kelleher holds first regional meeting about access to Bank Credit
‘Purpose of meetings will be to hear at first hand the views and experiences of key stakeholders’ - Kelleher

Mr Billy Kelleher, T.D., Minister for Trade and Commerce, held his first regional meeting in Cork today (Monday 29 June 2009) to discuss with representatives of business, banks and the state sector, the experience of gaining access to bank credit at local and regional level.


“Access to bank credit for viable businesses is critical” said Minister Kelleher, “if we are to ensure that our enterprise sector survives the current economic difficulties and positions itself to benefit from an international upturn.”


The Minister is holding a series of regional meetings over the coming two weeks visiting Cork, Waterford, Dublin, Bundoran, Shannon, Galway, Athlone and Dundalk.” He will meet with local representatives of the major banks, business representatives from local chambers of commerce, ISME, SFA, IFA and the Irish Hotels Federation. Local representatives from the various state agencies, Enterprise Ireland, Failte Ireland, will also attend.


Minister Kelleher outlined the following terms of reference for the Credit Supply Clearing Group recently established by the Tánaiste and the Minister for Finance:

• To identify specific patterns of events or groups of cases, by sector, geographically, or otherwise, where the flow of credit to viable business appears to be blocked.
• To aggregate the details of individual cases brought to the Clearing Group’s attention in order to identify patterns
• To seek to identify credit supply solutions relating to these patterns
• On an exceptional basis, to consider significant, individual viable cases where the flow of credit appears to be blocked and which either appear to illustrate a trend or are economically significant in their own right.
• To provide a mechanism for lenders to address how their stated credit policies match the current realities of business lending.
• To develop an overall view of business credit problems.
• To report to Government on a regular basis the issues addressed by the clearing group and any solutions found.

Continuing, the Minister said that
“The purpose of the meetings will be for me to hear at first hand the views and experiences of local business representative groups, local bank representatives and state agencies on access to bank lending in order to complement the work of the Credit Supply Clearing Group and thereby to feed into future Government policies on the issue.


I will also use the opportunity to outline Government policies and actions in relation to bank lending and to afford participants the opportunity for a direct and meaningful exchange of views.


The outcome of theses meetings should facilitate a greater understanding of the issue at both regional and national levels”, Minister Kelleher concluded.
ENDS/TC376


Press Office, Department of Enterprise, Trade and Employment, Tel: 01 631 2200
http://www.entemp.ie/press/2009/20090629.htm