The European Commission has approved the Government's €1.2bn Ukraine Credit Guarantee Scheme.
Announced in the budget, it aims to assist the wider business sector with liquidity and to invest in energy efficiency in the face of the fallout from the Ukraine war.
The scheme offers low-cost working capital of up to €1 million to SMEs, primary producers and mid-sized businesses with fewer than 500 employees.
Credit and financial institutions are however excluded from it.
The loan will be available on a 6-year term, with no collateral required for amounts up to €250,000.
The scheme was approved under the EU Commission’s Temporary Crisis Framework.
