Wexford firms and jobs to benefit from Euro Bank loans - Connick

Wexford jobs will benefit from a European move to provide €300 million in supports to Irish firms, according to local Fianna Fáil TD Sean Connick. "The European Investment Bank is providing €300 million in loans which will be passed on to small and medium sized companies in Wexford and throughout the country. The money is being targeted at those firms which form the backbone of our local economy."

"The money will be made available through local branches of AIB, Ulster Bank and Bank of Ireland throughout Wexford and in communities nationwide. This move by the European Bank will allow our local companies to receive loans to expand and to protect existing jobs."

"It is clear that a Europe wide response is needed to the global economic crisis. The EU is already pumping money into infrastructure and broadband to ensure Ireland and Wexford remain key locations for business and jobs. The provision of loans to companies with less than 250 employees will further support our efforts to protect the jobs of local people."

"Through the EU, Ireland is responding to the worldwide economic challenge. Taoiseach, Brian Cowen and Minister for Foreign Affairs, Micheál Martin are working side by side with other European leaders to protect the EU wide economy and ensure we will be in a position to take full advantage of any up-turn."

"Now more than ever it is important that Ireland remains at the centre of Europe. Clearly that by working with our EU partners we can ensure that we come through this downturn. Wexford people have a very positive attitude to Europe and recognise that membership of the EU has brought many benefits to our communities."

"Minister Martin has assured me that he is continuing to work on the delivery of robust guarantees from the EU which will address concerns raised by Wexford voters during the Lisbon debate."

"Minister Martin is working to ensure that issues such as neutrality, taxation and workers rights are addressed by the middle of the year. I will be remaining in close contact with the Minister as the Government works to deal with these issues in a way that will satisfy people in Wexford," concluded Deputy Connick.

For more information please contact:

Sean Connick TD; 0872564576