The IEA welcomed the Governments announcement of the €12 Billion lending plan by AIB and Bank of Ireland, stating that it was essential that the small to medium sized businesses were refinanced if they were to take advantage of the rapid return to growth in export markets.
“Expansion always demands more cash flow than retrenchment”, stated John Whelan, CEO, Irish Exporters Association.
However he went onto say, “The Banks must look at each borrowers special needs and ensure they offer appropriate advisory services and customised financial products, if the €12 Billion is to be successfully injected into the business sector over the next 2 years”
Mr. Whelan concluded by calling for innovative financial engineering by the banks when dealing with clients to ensure as many businesses as possible were successfully assisted to go on trading at home and expand into international markets.
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John Whelan, Chief Executive
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