New bank to make €500m of credit available to SMEs

Ireland is setting up a new state bank to pump hundreds of millions of euro into struggling small businesses.

New bank to make €500m of credit available to SMEs
Thu, 22 May, 2014 - 11:51

Ireland is setting up a new state bank to pump hundreds of millions of euro into struggling small businesses.

The Strategic Banking Corporation of Ireland (SBCI) will be funded by Germany and the EU as well as Irish pensions after a deal was struck with German Chancellor Angela Merkel.

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